I’ve always thought that if there was a solid 100% reliable way of measuring advertising results, that I would be able to retire very quickly to some beautiful warm tropic island. But alas, there are still to many possible errors made in the best of ROI models. The internet has made measuring results immensely more accurate. PPC and display campaigns can now be tracked almost to 100% of a buying decision, depending on the type of service or offer.
At a recent social media conference, a speaker* discussed on how to set up a measurement to view the effectiveness of your social media marketing. I’ve pulled some of the points out that I thought would be helpful for small business without large budgets or a huge team or analyzers.
1) Define your results. Sounds rather simple, but do you do this prior to starting a social media campaign? So when you are thinking of your next campaign, ask yourself “What results would I like? How do I define results?” So Todd at The Confectionary might say “I want to sell 50 boxes of Dark Chocolate Salted Caramels this Valentines Day” (By the way if you haven’t tried these yet, you are missing out)
2) Understand your audience and what motivates them. Does your social media message inspire/motivate/compel a response from your audience or does it just make sense to you? Design your campaign around your audience needs/wants/desires then add your message.
3) Whats the investment? Pretty simple right? But I find that this is the most overlooked one in any social media plan. This may tie to dollars but also ties to time. How much time is this going to take and is this the best use of my time and resources?
4) Establish a benchmark. By undertaking this campaign, I want to…sell more Valentines candy than last year….drive x number of patients to a heart scan event…gain 50 new followers on Twitter…want to have more friends on my facebook page than on my competitors page. You get the idea.
5) Analyze Results!
*Special thanks Katie Paine, she can be found on Twitter @kdpaine