September 2, 2020
When your strategy involves posting funny memes to your Facebook page, clapping back on Twitter or finding the perfect shot to share on Instagram, it’s easy to see why some don’t take social media marketing seriously. But fun and fluffy as it may sometimes be, marketing on social can deliver serious results.
The problem is, many social media teams forget a key element when they develop their marketing strategy – measuring success. You may have sorted out post scheduling, created a cohesive long-term content plan, got a copywriter on board, developed a consistent brand voice, found space in the budget – but if you can’t prove it works, all that effort could be wasted.
What are your success metrics? How will your results be shared with your boss, the head of sales or the rest of the business? How will you know when you’ve won? If you can’t answer those questions, your strategy is missing a key piece.
With our range of powerful social media tracking tools, Zavy is uniquely positioned to help fill the gap.
Likes aren’t the only measure of success on social media. To get a real idea of how your campaign is coming across, you need to choose a range of metrics to track. Looking at likes, shares and comments gives you insight into engagement, reach tracking tells you how many people see your post after it goes live, and share of voice looks at how your brand is performing on social media compared with your competitors.
It’s hard to define success without having something to measure against – that’s why benchmarking against competitors in your industry is vital. After all, you might think that your engagement and reach are exceptional, but if they’re far below your rivals you may have more work to do.
Zavy’s Scoreboard tool (click here to check out our Aussie brand scoreboard) makes social media benchmarking super-simple. Your scoreboard shows your ranking on social media compared to key competitors and major brands. Data is aggregated from a range of social channels including Facebook, Twitter and Instagram, with metrics based on each channel. You get an overall score that takes the importance of each platform into account.
It’s a simple, objective way to see how you compare to your competition.
Marketers love likes and shares, but they don’t pay the bills. Proving the worth of your social strategy to the finance team means looking at ROI. Actual sales, sales leads and sales-qualified leads – contacts that your sales team think will be likely to purchase – are all ways to measure this. If you set up tracking from the beginning, you can see the path of a lead as it goes from social post to website to purchase or contact with your company.
As part of your initial social strategy, you need to set expectations with your sales team so they can deliver the data you need to calculate results. When you have the relevant info about new contacts, leads and conversions, you can use that to calculate the ROI of your marketing spend. You can look at cost per lead, cost per sales-qualified lead or the number of sales conversations arising from your campaign. Benchmark against past campaigns and you’ll be able to tell whether your strategy is comparatively effective, or is missing the mark.
Creative and entertaining as it may be, social media marketing is really about results. You can spend weeks developing a strategy and defining your brand voice, but if nobody sees your posts or buys your products you’re not delivering value to the business.
Fortunately, Zavy’s social media tracking tools make measuring success pretty straightforward. We can help you set and track metrics on social channels, sales leads and conversion data, and benchmark your results against your competitors. It all adds up to hard data that demonstrates the value of your social strategy – and your hard work.