A successful businessman quickly learns that there are many factors that determine success. There are many areas of business that can be measured to gauge how well a company is doing. The same can certainly be said for the marketing department. If you are new to social marketing, you will likely find that there is a wealth of information available to you from multiple sources. It can take time to consume and apply that wisdom, but if you are measuring the following three metrics, you have a decent picture of how you are performing online. #1. Followers This is a bragging point for many companies as they call attention to their most successful social profiles. And, there is good reason to keep track of the number of fans and followers and how those figures change week after week. Ideally, a chart of those figures would continually climb uphill as you work to grow your online presence. Tracking the numbers can allow you to find points of weakness and to gauge the actions that lead to the greatest increase in followership.
#2. Demographics Social marketers love social media marketing because it allows them to learn a great deal about the consumers and those otherwise interested in their organization. Careful scrutiny of the profiles of new followers can give you a good indication of which niche is most interested in the products or services you have to offer. Consider factors such as sex, location, age, and profession, but also seek information on shared interests, as this can guide your decisions for future posts.
#3. Conversions Social media is a powerful tool, and if your goal is simply to increase brand awareness, then perhaps increased followership is enough. However, in most cases, marketers are not just seeking to grow the brand awareness, but also want to increase sales figures, build email lists, and encourage interaction with potential customers. Success in these areas is best gauged by considering conversion rates. When presented with a call to action, how many followers are actually doing as directed? How often are the links clicked? How often are new email addresses collected? Conversion is key, and this is one metric that you certainly do not want to overlook.
These are just three of the many factors that successful marketers will consider, as they work to improve online performance. However, as beginners, these metrics should be considered a solid foundation for future marketing endeavors.