If you’re like most marketing people or small business owners, you’ve heard the saying “you can’t manage what you can’t measure,” but for many executives, the tools and metrics used to measure digital and social media success are often obscure. If you are having trouble justifying the money and time you spend marketing online, or you simply want to know that your marketing dollars are well spent, here are some key social media metrics you can track.
It’s important that before you even begin to track metrics for your social media marketing, you have a clear definition of your social media platforms and properties. The “big five” social media sites often used by advertisers today include:
The reason social media is so critical for businesses today is a matter of critical mass: there are more than 1.5 billion active users on Facebook, and the average user spends about 50 minutes on there each day. There are also about 65 million active Twitter users in the U.S., and a growing number of users (and promotional opportunities) on social media sites such as Pinterest and Instagram. Advertisers should also take note: YouTube has over 1 billion users—about 1 in 3 people on the Internet—and reaches the demographic groups of 18-30 and 31-49 better than any cable network today.
As you dive into a social media strategy, here are a few things you should be measuring:
All these metrics can help you identify how to get more out of your budget for marketing and advertising online, optimizing the money you spend for maximum impact with the right audience. To find out more about social media strategies and what you need to know about tracking its success, call an online marketing company in Salt Lake City.