Whenever a business launches a new initiative, the most important thing that the business must be able to assess is the effectiveness of the initiative. This same wisdom extends to corporate social media initiatives; you need to be able to measure your organization’s social media success.
However, while traditional business initiatives can be measured by single, objective outcomes such as higher sales numbers, success on social media is measured through much less obvious, more nuanced measures. Businesses that truly understand how to measure success on social media are poised to benefit the most from their investment in this arena.
Here are the most important things that businesses need to know to effectively measure the success of their corporate social media strategy:
- Track the leads you generate from social media: Every link that you tweet, share and post on social media should be trackable, so you know which customers were referred to your business through social media vs. some other platform. Google Analytics offers some basic tools for understanding where your traffic is coming from; keep tabs on all of these metrics.
- Count up your Google searches: Believe it or not, customers who are exposed to a brand through social media are much more likely to go searching for it online later. A 2009 study from GroupM found a strong correlation between social media exposure and subsequent searches for that brand. So keep track of who’s searching for your brand to help you understand how your social media strategy is influencing it.
- Measure the level of audience engagement: To really know how invested your audience is in your business and the content you share, you should measure their level of engagement with your content. Monitor unique page views, time spent on a page and total page views. Pay attention to content that gets a disproportionately large number of shares, likes and retweets. These are all signs of an engaged audience.
- Prioritize quality of engagement, not quantity: If one business has 100,000 followers on social media who rarely interact with the business, and another business has 1,000 followers who engage routinely with the business, which social media initiative is likely to drive stronger sales? The key is always to look at how your audience engages with your business, not the total size of that audience.
- Monitor audience sentiments over time: Not all audience feedback on social media is positive, and that’s OK – as long as the sentiments of your audience toward your business are improving with time. Add up how many positive, negative and neutral interactions that you have on social media, and use this data to study whether your positive interactions are gradually ticking up as negative interactions drift down.
- Calculate your share of voice: Social media is a dynamic, cluttered space where all businesses face unrelenting competition to get their voice heard. It’s important to know how much voice your business has within your niche market. Fortunately, the formula is simple: Divide the number of your social media mentions by the total number of mentions within your market.
Strengthening the reach and value of your business on social media is a neverending quest. As you work diligently toward this goal, it’s important to continuously measure how your social media strategy is working. The most effective ways to do this are to keep track your social media leads, use Google Analytics, measure the level and quality of audience engagement, monitor your audience’s sentiments over time, and calculate your share of voice on in the social media market.
EveryoneSocial’s social media management platform can help you measure your social media employee advocacy success. We provide the metrics needed for you to see how your employees are engaging with your current and potential customer’s to give you a real idea of what’s working and what isn’t. Schedule a demo with us today to see how our platform’s social media metrics can measure what employee advocacy via social media is truly doing for your company.