The most important part of developing your strategy is determining how you are going to measure your success. Halfway through the marathon is no time to wonder how you’ll know if you’ve crossed the finish line. Establish your measurements right after you create your goals.
If you are trying to increase the number of customer service interactions you have by social media, for example, start by establishing a baseline for what that looks like now.
Tie your metrics to your business goals, otherwise you’ll waste time pursuing numbers that don’t really matter. Here are some examples of business goals linked to appropriate metrics:
|If your business goal is to …||… then you should measure …|
|Generate leads||Number of leads generated through social media.|
|Increase customer satisfaction||Positive sentiment around your company and brand.|
|Lower customer service costs||Number of incidents resolved through social media.|
|Improve your brand’s awareness||Share of voice|
|Improve product quality||Number of product-related issues posted.|
Looking for detailed guidance on how to build out your social media metrics? Download our ebook 5 Steps to Effective Social Media Measurement. It includes sections on some of the most common social media metrics, including:
- Awareness, attention and reach
- Conversions and sales
- Social media leads
- Cost savings
- List the most relevant metrics to measure your goals.
- Benchmark each metric so you know the starting point.