One of the great things about using social media platforms to market my small business is that the platforms can provide robust data. One of the worst things about using social media platforms is that there is so much data. What is a girl to do?
Well the first thing to remember is that I need to collect data that will demonstrate the effectiveness of the strategies I am using to reach my goals.
- Increase brand awareness and drive engagement with our traditional target audience of teachers.
- Increase brand awareness and drive engagement with a new target audiences – camps and event organizers.
- Build on our current customer relationships by getting them to re-order, and grow order size.
Setting SMART Goals generally requires having actual measurable targets, but I am having difficulty setting these numbers, because at first glance it seems like any growth will be good growth. The most important thing I need to remember is that the longer I have been collecting these metrics, the more useful they will be – its not a matter of absolute growth, but a question of the rate of growth.
The second thing to keep in mind is that how often I review my metrics needs to be balanced with how often I plan on posting. If I am only posting something new once a week, then a monthly review of my metrics makes sense.
Reach & Engagement
Reach and engagement means how many followers my account has, as well as how many likes, shares, comments I get.
Reach: Rather than focusing on the number of followers I have, I will look at the audience growth rate over time. The intent here is to identify what events resulted in the highest growth rate. What content was I publishing? What time of year was it? What hashtags did I use? What are the demographics of my new followers? I can then use this information to better tailor my content to my audience.
92% of consumers believe suggestions from friends and family more than advertising.
88% of people trust online reviews written by other consumers as much as they trust recommendations from personal contacts.Word of Mouth Marketing, 2019
Clearly engagements matter. Eventually I want to be able to measure the per post engagement rate – that is to say the total number of likes, comments, retweets/reposts divided by the total number of followers divided by the total number of tweets/posts, which will give me the per post average engagement. The goal is to see the per post engagement rate increase over time, as we build our social media presence.
When trying to decide how many retweets are good, bad, or in between, you don’t want to focus on the number of retweets in a time frame, but rather a percentage of retweets per impression. If I send out 30 tweets a week and get 50 retweets, well, that’s not outstanding but it is engagement. If I send out 10 tweets and get 50 retweets, that’s a whole new ballgame.https://www.quora.com/How-many-retweets-are-good-for-an-account
I’ve developed a spreadsheet where I will keep track of my data from each of the platforms I will use. This spreadsheet has headings for Content, Reach, Views, and Engagement and will keep track of the numbers each month. Over time I will be able to use these numbers to establish rates of growth. I will also keep track of as much demographic information as possible including things like location, age, and gender in order to better target our mailing list, which so far has been the bulk of our marketing efforts.
As our use of social media grows I expect I will need to develop a more detailed plan for analyzing the data I can generate through each of the platforms.
What is one metric you think that you can’t live without? Share your comments in the comments below.
Word of Mouth Marketing in 2019: Effective Strategies Examples. (2019, July 24). Retrieved from https://www.bigcommerce.com/blog/word-of-mouth-marketing/#what-is-word-of-mouth-marketing.