Before you launch your next social advertising campaign, make sure you have the tools in place to determine if your ads are doing what they're supposed to do. By tracking certain key performance indicators (KPIs), you'll also be able to improve your campaigns each time by tweaking them accordingly.
To gather information about engagement, reach, and conversions, consider the following KPIs:
Do you know how many people are engaging? Do you know who they are? By tracking the basic counts of clicks, likes, and shares, as well as the more in-depth engagement that comes in the form of comments, brand mentions, and new followers, you'll learn the effectiveness of your engagement marketing.
Analyzing these KPIs can tell you if consumers are participating in your brand experience, just seeing it, or missing it altogether.
Have you ever wondered how far your brand's message is traveling?
Some kinds of reach, such as impressions, can be a bit harder to quantify. For example, if your brand shows up in someone's newsfeed because their friend liked your post, there's no guarantee they looked at it — but the potential is there. Likewise, fans and followers have already indicated they like your brand, but that doesn't mean they'll always pay attention to what you post.
Traffic, on the other hand, is very trackable. If customers are clicking through from social media to get to your website, you're likely doing something right. Your next step is getting them to do what you want (e.g., buy, download, or sign up for something) while they're there.
Now we're getting to your bottom line. How many customers bought your product or service after seeing your social media campaign?
Compare results from different channels to determine which had the most impact. Don't worry if you're not generating a ton of new customers from social media, because your campaigns are also reaching existing customers. Focus on the new customers you bring in and how much they spent, and then determine your return on investment.
Adjust your social advertising campaigns by using the data you've collected from these KPIs and you'll get better results each time.