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How to Measure the Impact of Social Media Marketing Strategy on Business.

How to Measure the Impact of Social Media Marketing Strategy on Business.

Maria Padilla600 18-Jun-2020

There are plenty of tactics in the Digital marketing industry to generate leads and boosts sales. Marketing strategists have realized that Social media marketing strategy has shown excellent results in driving leads.

This is why clients now prefer to promote their business on social media platforms like LinkedIn, Twitter, and Instagram. These platforms can be used to develop business relationships and gaining audience trust to generate sales.

The key to a successful social media strategy is to track its progress and impact on the business. For this, proper planning has to be done before moving ahead with social media marketing. Measuring the impact of social media on trade can help you to analyze the return you achieve on the money you've invested.

Here are a few ways you can track your social media marketing strategy in digital marketing:

1. Specify Goals

Define goals at the start of the social media marketing and follow them one by one. Determine what channels you are going to promote your business and track their engagements. Based on the content type you want to share, choose the social media platforms.

What are you trying to achieve from the posts you are sharing. Do you want the audience to like, share, or subscribe? List out all the goals before starting to create content and posting.

2. Determine Metrics to Measure These Goals

The next step is to analyze your goals; success is to match it with actual metrics and behaviors. Once you post the campaign on social media, sooner or later, the audience reacts. Measures define how the visitors are interacting with what you post and share.

Metrics like Volume, Reach, Like, Comment, Share, Retweets, URL shares help analyze the goals' effectiveness and measure its success. Keeping track of these metrics allows you to review user engagement.

•To measure awareness, use metrics like volume, reach, exposure, and amplification.

• To measure user engagement, track metrics like retweets, comments, and replies.

• To measure the traffic to your website, track URL shares, clicks, and conversions.

3. Measure the Metrics

After defining the metrics, you need tools to capture and measure them. Some social media platforms like Facebook and Twitter have their personalized tools where you can measure their analytics and use third-party tools. There are plenty of analytics tools available on Google, free, and paid both.

Choose according to the desired need and download. Many real-time tools work in real-time and are useful in accessing the data that you might need later. We, at Tendrik, study and analyze client's business, use relevant analytics tools to measure the progress of the metrics.

4. Create & Monitor Dashboard

The next step is to collate all the data in one place and then monitor it to create a benchmark for future measurements. Keeping all the data in one place will help you make quick decisions and better strategies for future campaigns.

The good thing about social media analytics is that one can easily track reports about their competitors and see how their campaigns are doing.

At the end of the week or month, analyze your actions and how the strategy has performed. Review the steps to track its effectiveness.

5. Benchmark your Work

Are you meeting your set goals using social media strategy? The only way to check if you are progressing in the right direction or not is to set a starting point. Pick a benchmark to assess the effectiveness of the social media campaign.

The parameter could vary depending on the company's goal: user engagement, awareness, sales, lead conversions, organic traffic, drive traffic, etc.

Final Thoughts

If your digital marketing team is engaged in social media strategy, you need to analyze how you're doing and improve further. You and your client need to know if the campaign is working effectively and having an impact on the potential consumer or not?

This is why monitoring and measuring your social media activities is so crucial. At Tendrik, we have an expert team to guide you on how to improve your sales using social media marketing.

Hi Buddy, I am Maria M. Padilla I'm a Professional Blogger and writer. I love to travel & writing. Regularly writing about different topics for various magazines, newspapers, and websites.

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