David explains why you need to become a social business before you can become a social brand. You’ll also find out where to start your social business planning and what to expect in the future.
Be sure to check out the takeaways below after you watch the video.
The truth is there are dozens of viable metrics you can use to gauge the success of your social media efforts. The challenge isn’t measurability; it’s knowing which measures are meaningful.
Here are the 6 undervalued social media success metrics you should be tracking:
#1: Daily Story Feedback
Instead of just counting the number of Facebook “likes” you accrue, which signifies nothing more than digital bumper-stickering, track how often your fans click “like” and comment on the status updates you post.
Do you have a social media strategy? Does it involve content? Should it?
The other day I drove past a local convenience store that makes most of its profit from beer, Slush Puppies and beef jerky (not that there’s anything wrong with that). A big sign out front asked passers-by to Like them on Facebook.
“It’s official,” I thought. “Now every business in America has a Facebook page.”
Unfortunately, few businesses actually have a strategy for their Facebook page, or for the rest of their social media activity. They tweet, blog and set up a Facebook business page out of fear of being left behind, rather than as a way to engage their audience.
Canadian grocery store chain Loblaws knew they had a great BBQ sauce based on customer comments. But they didn’t understand why sales were so dismal.
Until they invited customers to post product reviews on their website. Only then did they discover the problem was the bottle – it was too tall to fit in refrigerator doors! They redesigned the bottle and their sales immediately increased.
That’s user-generated content directly leading to an increase in sales. That’s the power of social media marketing.
Are you still sitting on the sidelines when it comes to social media marketing because you know you can’t control the conversations about your company, your products and your services? And because you have no idea how to respond to negative comments?
For marketers, social media is becoming increasingly complicated. The number of channels continues to grow and the pressure to show how all this effort will impact the bottom line only grows stronger.
The pains of managing social media are obvious – now let’s look at 10 different cures to make those pains disappear.
#1: I can’t keep track of what’s going on!
Are you struggling to find measurements that are meaningful to your organization? Do you feel like you’re searching for a needle in a haystack of metrics?
Here are 8 useful metrics that you may not be measuring, but should be.
#1: Conversion Rates
Everyone wants to measure the volume of leads generated to get to the bottom-line ROI of social media efforts. But don’t forget about the value of the conversion rate! While the volume may not be there yet, the propensity to convert may be staring you right in the face.
The cost-effectiveness of social media has vaulted it to the top of the list of tools used to improve customer retention. But how do you measure whether social media is affecting your ability to keep customers?