Social Media is just one of the promotional channels you use in your promotional mix. When you are about to start a promotional campaign, you don’t promote only through your Social Media networks. You employ a multi channel promotional approach through TV, radio, email marketing, magazines, online Ads etc (promotional mix). In many cases, the online traffic from all these channels end up at a Landing Page (a specific page on your website). If you don’t have a strong online presence for your business yet, you might want to consider building an online business presence first. So, the question that comes up is: how well are you doing with your Social Media promotion?
“Reach” & “Conversions” the two key performance indicators
Two key indicators that determine your promotional success are “Reach” and “Conversions”. “Reach” is the total number of people who saw your promoted message while “Conversions” is the total number of people who took a required action i.e buy, subscribe, leave a comment etc. So, your overall promotional performance or success is really a measure of these two indicators, the “Reach” and “Conversions”.
On Social Media, this measurement of performance becomes really easy as all major social platforms provide a tool for making the measurement. Facebook calls it “Insights”, Linkedin calls it “Analytics” and Google+, “Insights”. They all give different measures of your promotional effort. One of these measures is your “Reach”. So on the Analytics/Insights section of your Social Media accounts, you can easily tell how many people saw each one of your posts and how many of them engaged with it (like, comment, share). Simple and clear.
Conversions on the other hand, usually occur on your website. Hence, taking this measurement can only be done on your own website and not on any of your other Social Networks. Google Analytics is a free tool that can be used to get insights about your website traffic. You can easily tag each visitor and know where all your traffic came from. You can tell, for example, how many visitors came from your Facebook post and made a purchase on your website. How many people came from your Facebook Ad and made a purchase. How many people subscribed to your event and came from your post on LinkedIn Pulse or from a post in a LinkedIn group.
What you can’t measure you can’t manage
Measuring your performance on a continuous basis is pretty important. There is no need to go into much detail. Gathering too many pieces of performance data might drive you out of focus. Try to keep it as simple and fast as possible. Measuring your promotional performance in terms of “Reach” and “Conversions” is a fast and easy way to tell how good you are doing on your promotional activities.
To learn more on hot to promote online with success, attend one of our training courses on Internet Marketing