- Social media marketing is a holy grail for a lot of businesses because of its huge potential in attracting more and more potential customers.
- One of the main reasons behind it is the fact that users spend a lot of time on social media daily and that content is more relevant and appealing to them.
- But how do you know if your social media strategy is successful and how to improve it? Read more to find out.
Implementing a social media strategy is one of the best things you can do for your business. Social media continues to grow and social media marketing is an increasingly popular and effective way of accessing millions of potential customers. All that is really required is to create and deliver a message that connects with your audience, but how do you know if your social media strategy is effective?
The effectiveness of social media is not in how big your audience is or how far your message can travel but how much engagement you receive. The logic is simple. The more engagement your brand receives, the more likely your audience will convert into customers.
Like anything, social media is a numbers game, but more followers do not always mean more customers. The most accurate measurement of the success of your social media strategy is in the interactions –likes, retweets, shares, comments, etc. The engagement rate is far more important than followers because 30% of 350000 followers interacting with your brand is better than 10% of 1 million.
Traffic and conversions
The primary aim of any social medial marketing campaign is to gain more customers and increase business. There are a number of innovations to enable customers to buy without leaving their social media platform but overall the idea is for your social media content to send traffic to your website. Analytics platforms will be able to tell you where your traffic is coming from so this is a great way to see any increases from the time your social campaign started – and to compare the effectiveness of different campaigns. Top tip: get your website ready to handle huge spikes in traffic just in case your campaign goes stratospheric!
Once you’ve started getting traffic, you’ll need to monitor their conversion rate. Once you’ve got someone on your website, you should have an action that you want them to complete – that could be a sale but it could equally be subscribing to emails or taking a short survey. Monitor your conversion rate and see what tweaks you could make to improve it. Your social media campaign can’t be considered successful just through increasing your website traffic; you need significant increases in actual actions.
Your traffic analysis will tell you which platforms are working best for you, but remember that each campaign is different, and just because Twitter got you the most referrals in your last campaign doesn’t mean Facebook won’t be the better platform for your next.
Choice of platform is one of the most important aspects of a successful social media campaign. Your content will largely determine which platform is best with video content excelling on YouTube, image based content working best on Instagram, and text based content working better on Twitter and Facebook – although including an image in tweets or Facebook posts increases your chances of user interaction.
Each social media platform has its own features and type of audience, so you’ll likely go through a bit of tinkering before you hit upon the best balance for each campaign. Keeping a track over time will help you find the right balance sooner.
That said, it is recommended that you use more than one social media platform at a time to promote your business. Tracking results just helps you know how to better spend your budget. Try not to overdo it, though; if you don’t have the time or resources to manage 6 social media channels, don’t attempt to, because the potential gains will pale in comparison to the potential losses that come with neglecting the channels that yield the best results.
Success on social media comes with continual analysis and measuring. Work out what channels are getting the best results and focus your efforts into cultivating them.