Should You Be Analyzing Your Social Media Marketing Effectiveness?Association of Strategic Marketing
June 20, 2013 — 1,423 views
Social media is probably one of the most essential tools in today’s business. It may be difficult for businesses to survive without LinkedIn, Twitter, and Facebook accounts as they help to increase customer base and generate leads. While Facebook has over 800 million users, Twitter has about 200 million users. In addition, a blog with regular comments goes a long way in enhancing business effectiveness.
Benefits of Choosing Social Media Marketing
Those who stop to ponder over the benefits of social media marketing are probably not aware of the immense importance of social media. When you make your presence on social media sites, customers begin to trust you because you are interacting with them and answering their queries.
Yet another advantage is speed. If your media message impresses people, it readily goes viral and thousands of people become your instant audience. But the real advantage of social media is that your constant presence along with content generation in your field of expertise makes you well-known. The community of followers and contacts respect your authority and trust you.
Social media offers you all the advantages of marketing at literally no cost. Your business reaches hundreds and thousands of people for free. In addition, unlike other marketing strategies, this method is a two-way traffic as you can communicate with your contacts and refurbish your image as well as address their problems.
Tools for Measuring Social Media Marketing Effectiveness
There are several tools that can measure the effectiveness of social media marketing. Some of them are Google analytics, page rank checker, Klout, and HootSuite. Page rank checker will let you know the page rank of your website from 0 to 10 with the help of Google algorithm. Klout is also a social media measurement tool that lets you know your overall influence across networks. The score range in Klout is between 0 and 100.
HootSuite lets you analyze your traffic growth. Google analytics is best suited for testing market effectiveness, while Facebook insight is ideal for clout analysis on Facebook.
Tracking your Social Media Marketing Effectiveness
You will never know how effective your social media marketing is unless you are able to track your marketing efforts. In other words, you need to know how big your audience is. You also need to track different kinds of statistics including their activities, likes, visitors to your blog, and the time they spend there.
There are social media applications that can help you analyze statistics in real time. Cyfe is one such application that will help you analyze data from Google analytics, Twitter, PayPal, Facebook and several other sites. Other than your reach, engagement is yet another measure of your marketing efforts.
Engagement in context of social media means the number of people that engage with your content through subscription or likes. It includes comments, retweets, sharing of your posts, youtube ratings, and clicks. Finally, conversions let you know the number of people who have taken an action in repose to your content which includes lead generation, sales, and registrations.
Social media is only as good as its effectiveness. So, just being present on social media sites does not promote your business efforts. But if you are active on social media sites, you need to know how effective your campaign is. In other words, your efforts need to be measurable for which there are several tools you have for utilization.