For a social media marketing person, it is important that you know how to measure the success of your content marketing, campaign or strategy. Usually the client or the management will request a report on the ROI of the social media marketing.
ROI is traditionally a financial question to show the sales delivered from the cost of making that sale that include production cost, marketing spend etc. This is unlike social media marketing, where a “tipping point” can be much harder to identify.
In order to do this, we must first identify what is the main goal of Return Of Investment that they want to achieve. From my experience working at a social media consultant company before, I found out that 70% of the client’s goal is on Brand Awareness and 30% of the goal is on Sales.
Educating the management and the client on the expectation would be helpful because they need to understand that brand awareness does not generate sales lead but it is a gateway that the audience pass through as part of sales funnel.
There are three important question that you need to ask the management or the client. First, what is the time frame of the work? (TIME). Second, how much money are allocated ? (MONEY). Third, what sort of resources that we need ? (PEOPLE)
We need to identify these three important factors, because it will determine the time to prepare the measurement report. From my previous work, the report will be submitted at end of the month. Sometimes, we will prepare the report at the completion of each social media marketing campaign.
I would like to highlight the three types of measurement that have been used by O2, the commercial brand of Telefonica UK. The measurement is divided to three areas of social media measurement :
Measure it through channel. This is the most easiest measurement, because you will have all the statistics, data points that are include but not limited to : Impressions, Visits, Followers, Mentions, Share of Voice, Sentiment and Clicks.
Measure it through campaign. This measurement usually built around specific objectives of the campaign that could include Awareness, Referrals/Leads, Message Association, Brand Association and Conversion.
Measure it through commercial. This is the most important measurement when reporting because it focus on business return or investment. These include Customer Satisfaction, Cost Savings and Revenue.
There are several tools that assist social media measurement that I have worked with:
HootSuite. Simple, but powerful tool for the average social media marketer but the statistics are pretty basic. In previous company, we have tried using this tool but the usage is limited and the interface is not user friendly for beginners.
Sproutsocial. The analytics provide useful data like engagement percentage and how your social channels are trending over time with colorful charts, graphs and other visually appealing data formats that make it easy to digest and report back to your peers so you can be sure you are optimizing your social media networks fully. The interface is easy to use and straightforward for beginners.
Buffer. It does enable campaign tracking via Google Analytics’and UTM parameters but there are not many statistics or analytics. Relatively new to the social media scene but but quickly gaining popularity.
Sendible. This is the tool that we have decided to use in my previous company, It pulls in your posts and comments across all channels and allows you to respond from one place. You can even highlight items requiring urgent attention. You can customized reports to see how effective each post is and to queue up and optimize posts. All of the reports are displayed in a nice color coded calendar format which make it easier for you to use it in your report to the management and client. It also assist me in coordinating the task to the team.
The responsibility of a social media person is not only focused on managing content on social media platforms but they should also have the knowledge on how to measure it.