“How do you measure the success of brand’s social presence” is a question we receive time and time again. Evaluating the success of your social efforts can be challenging, but by using the five key components below you’re sure to unlock valuable insights into your audience demographic, competitive landscape and sales metrics.
1. Consumer Traction: Social media is a conduit between a brand and the consumer. Not only does it allow consumers to stay connected with a brand, it gives the brand real-time feedback on fan sentiment and position among competitors. Utilizing social media analytics can also help a brand identify new markets or customer segments that the brand is resonating with, providing guidance for other marketing efforts.
2. Reputation: Managing a brand’s reputation, customer sentiment and online presence is a key component to any social media strategy. The first sign of trouble for any brand can usually be identified first on social media. Having a dedicated social program provides the opportunity for a brand to manage potential grievances and keep consumers satisfied before they infiltrate the community with negative comments.
3. Engagement: One of the most popular metrics to determine social success is a brand’s engagement rate on social media is engagement. Monitoring and evaluating social engagement can help a brand determine how invested the social community is and how effective are its campaigns. Tracking these metrics is vital in creating an evolving social strategy. (should we add engagement stat to provide insight as to what would be successful? How about how we measure it?
4. Traffic: An increase in search volume ultimately leads to an increase in traffic to both the brand and retail partner’s websites. Social advertising efforts can be measured by implementing tracking pixels as well as referral traffic via Google Analytics. Garnering an increase in inbound links is another added benefit when engaging on social media. Most fans begin to share information about the brand on their own personal channels which leads to additional traffic and a higher organic ranking on search engines.
5. Sales: Utilizing both tracking pixels and Google Analytics can assist in evaluating how many leads were secured from social media thus further defining social media’s success.