How to measure social media marketing’s growth contribution

For small businesses, social media marketing can be a blackhole. You keep digging deeper and deeper but the result is disappointing. Feeling disillusioned with social media marketing isn’t uncommon. However, the exclusion of social media marketing from your outreach activities can be detrimental to growth.

One of the challenges of effective social media marketing management is measurement. Given the versatility of the discipline, there are different schools of thought with regards to its effectiveness. While each has its own merits, as a small business, you should probably be more focused on those with tangible outcomes pertaining to the business’ growth and financial well-being. Let’s examine them here.

1. Conversion rates
In a nutshell, conversion rates measure the success of your social media marketing activities in achieving the desired outcome. For example, it can include visitors to your website and sharing their contact details for an eBook or booking a consultation session. To this end, it is the penultimate measurement. Anything less than the desired result takes you further away from your growth objectives.

2. Customer care and management
Thanks to social media, sharing one’s experience with a brand or business, good or bad, doesn’t take a lot of effort. In addition, people trust reviews shared by others more than a brand’s marketing communication activities. To this end, you’ll need to stay on top of your customer care and management activities. A constant stream of bad reviews can be harmful to a brand’s reputation. Having the policy to guide acknowledgement and response to reviews is essential. Your capabilities and performance in this area must be carefully measured.

3. Online brand saliency
It’s the most basic measurement you’ll need to monitor. All those postings must, in the very least get people talking about your brand or business. The Internet is a crowded and noisy market space. Hence, unless you’ve achieved brand saliency, your brand will be drowned in the dark, deep cave the Internet is today. So take note of brand mentions as well as the associated discussions about your brand.

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