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Social media platforms have become more than just social media.
It is offering every type of business of every size the opportunity to increase its reach to a wider range of audiences. That is why almost every big business giant is utilizing the potential of social media marketing.
Still, only running social media marketing campaigns and developing great strategies are not enough. In order to get the most benefit, you must analyze the result you are getting from the marketing campaign.
On the basis of all those pieces of data, you are required to make the necessary changes to your marketing strategies, and when needed, you also must develop newer strategies. Analyze your chances of winning and losing. And for this you should always do a win loss analysis.
There are a number of tools available on the world wide web to help you calculate all the social media metrics; you can get them free from the pirate bay. Still, you need to know how you need to track social media and its impact.
2021 cemented a lot of challenges for marketers. Zoom became the new meeting room, and Webinar became a regular event.
But the most impactful change the world of digital marketing brought for every marketer was how social media became a go-to window to learn, find new opportunities and grow your brand.
It shows how important social media platforms have become important for brands!
Social media is the only active community where you can find millions of active users at any given time. So no matter when you are entering the platform, you will always find your targeted audiences waiting for you.
The popularity of social media has reached the point even the B2B companies are using it to sell their products and services.
Here are a few key reasons why Social Media has become a Must-Have for any brand.
- Generate Leads: Social media create a meaningful conversation with the audiences and engage within their targeted industry. This helps you create not only credibility with your customers but also strategies that can result in gaining new business leads.
- Nurture Leads: Social media is all about building healthy relationships with your customers. With the help of the right social media strategy, you can convert potential customers into paying customers and retain them for future business.
- Connect The Social Post With Opportunities: We are talking about brand awareness, but if you can do it correctly, you will be able to get many business opportunities even from a single social media post. With the right CRM, business leaders can drive customers’ posts to CRM and understand their customers better.
- Grow Your Audiences: In 202, 4.5 billion were active on social media platforms. What does that mean to marketers? It means that marketers get a huge marketplace to sell their products and services. Once you know what your audiences are expecting from you online, you will be able to expose yourself to a wider bandwidth of audiences.
As we have mentioned above, in order to know whether social media is bringing you more customers and helping you grow your business, you must evaluate the metrics and track social media marketing along with its impact on your brand.
Measuring Social Media Exposure
With your message, how many people can you reach?
When you are using social media, this particular measurement is all about as reliable as the circulation of magazines. You need to calculate and analyze how much exposure you have got from your social media handles.
Only getting likes and followers is not enough here. You must measure whether you are capable of reaching your targeted customer or audience group.
After considering the exposure, it is time to have a closure look at the engagement rate. As we have already mentioned, only gaining followers and getting more likes is not going to help you when you are thinking about growing your brand and business.
You have to ensure that your target audiences are engaging with the content you are posting on your social media platforms.
This particular category gets into a little soft space for measurement purposes. We must say that influence is a subjective metric, which completely relies on the perspective of your company for definition.
Basically, here you are required to ensure that you check whether the metrics of engagement that we have listed above are neutral, positive, or negative in terms of sentiment.
The Lead Generation Funnel
Just the way you have a sales funnel for your business, you also must have a lead generation funnel when you are spending your money, time, and effort on a social media campaign. This is the space where most of the major companies measure their efforts.
The funnel starts with exposure, where you will have a wide range of target audiences. After that comes the influence part, as not all the audiences are going to get influenced. Then comes the engagement part and, finally, the conversion or action.
We believe after going through these articles, you will now be able to track your social media performances and their impact on your brand. Still, here we are, answering some of the most common questions to clear the rest of your doubts.
Here are some critical metrics which you are required to track for measuring social media impacts.
- What type of content works the best.
- Clickthrough rate.
- Customer service.
- Competitor benchmarking.
- Your social media value or return on investment (ROI).
There are a number of third-party software and online tools available where you can track all your social media metrics. These solutions work great when it comes to tracking your brand and growing your business.
Now, all set with the required weapon, and start investigating your social media case. On the basis of the data, you need to re-strategize some of the things and also repeat the well-performing strategies to build brand awareness.
Thank you for reading!