How to measure social media success

If you’ve been following along my social media series, you’re already read my fundamentals and how brands are using influencers to spread their message.

So what’s the next step? Good question. Being able to measure your success is one of the most important things any style/lifestyle blogger can do.

Why? It all depends on your objectives, and we’ll get there, but the goal for most is to monetize. In order to be able to show that you are a successful brand, you must first be able to measure your success and provide your customer (brands) with data to prove it.

 

Let’s take it one step back. You can’t possible know what to measure and what success means unless you have set up objectives. More than that. It’s not enough to just say that my objective is to grow my business. This type of objective is not productive and doesn’t lead to success. Your objectives should be SMART objectives: Specific, Measurable, Actionable, Relevant/Realistic and Time-based. As an example, my SMART objective might be to increase acquisition on Instagram by 30% over the next 8 months. That is an objective that can actually be measured in 8 months time.

We’re not just married to one metric – the metrics of your objectives can be more than just acquisitions, they can be activity, reach, engagement, conversion , retention or advocacy. Your objectives will also change depending on what phase your business is in, so be prepared to adjust accordingly as your business grows. For the fashion industry, and specifically for my brand, reach, engagement and acquisition are the three most important metrics right now. My goals will all be based around those metrics.

 

Now that we have your objectives, we can begin to measure them, and look for tools to help. Since my objectives are based around reach, engagement and acquisition, we will use those as our examples.

 

REACH

To measure reach, we want to look for the following:

  • Audience Growth Rate
    • Per Channel – IG, Twitter, FB
  • Brand Awareness
    • Mentions of brand – how many people are taking about this on FB, on IG or mentioned on Twitter via hasghtags
    • Measured over the period of time specified in your SMART objective
  • Post Reach and Impressions
    • How many people is each of your posts reaching on Facebook
    • How many impressions is each tweet getting on Twitter
  • How do these stack up against your industry or competitors?

 

ENGAGEMENT

To measure engagement, we want to look for the following;

  • Post engagement
    • The number of times your FB post is shared, clicked on or liked
    • The number of times your IG post is liked or commented on
    • The number of times your Twitter post is expanded, re-tweeted or liked
    • The number of times your Pin is liked or re-pinned
  • How do these stack up against your industry or competitors?

 

ACQUISITION

To measure acquisition, we want to look for the following:

  • How many new followers/fans have you gained
    • This should be the net new followers (gained minus lost) over the period of time
  • How do these stack up against your industry or competitors?

 

Some of great tools to help measure these types of objectives are Iconosquare (formerely free, but now is based on a paid model), Simply Measured (has tons of free tools and a paid model for more advanced statistics), Twitter Analytics and Facebook page analytics. These are some basic tools to help you get there.

 

Lastly, and the most important part of measuring anything, is to learn and adapt. What did you learn from your statistics and your objectives? Did you realize that there are certain kinds of content that your user base engages with more than others? Good – produce more of that. That is the whole point. To continuously evolve and adapt your content based on what your fans are telling you.

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