3 Ways to Determine the Value of Social Media Marketing

Social media marketing is a practice that’s here to stay. Indeed, virtually every business uses social media as a platform to boost blog performance, make announcements, and engage with their customer base. However, despite the amount of content companies create for their social media pages, relatively few businesses try to accurately measure the value of their social media efforts. Though this can prove a difficult task, you can better analyze your social media marketing, and adjust accordingly by following these three simple steps:

Diversifying Campaigns

It’s a smart practice to implement multiple marketing strategies at once. Not only will this likely increase the number of leads you draw in, but it can also help you determine what works and what doesn’t in social-media practices. According to Alphamind Studios, Inc. millennials use social media more than any other generation so forming relationships will require engagement, questions, comments and relevant content. If you find that customers respond to one type of social media post, but not another, you can more accurately surmise how you should proceed in the future.

Monitor Activity and Engagement

Do you read and respond to comments on your Facebook page? Have you ever answered a question someone posed to your business on Twitter? If you currently don’t take an active role in social media, you should begin adopting a more responsive approach. Though it might be frightening at first, take this opportunity to interact with your customer base. If your engagement is low on your social media pages, (i.e. few comments, likes, or shares) then you’re likely not producing quality content.

Track Conversion Rates

Getting shares, likes, and retweets as a result of your social media posts is definitely a good thing. But it shouldn’t be the ultimate goal of your social media efforts. Rather, you should never lose sight of the fact that you’re trying to accumulate sales, and that, if your marketing efforts aren’t producing profits for your business –– then they’re not succeeding. One of the best ways to determine your marketing efficacy –– through social media or otherwise –– is to calculate your sales conversion rate. Ideally, everyone who reaches the final stage of the sales process should do business with you. So if you find your conversion rates to be lower than normal, reconsider your social media marketing strategy.

The Bottom Line

Whether you’re looking to promote a new type of serum separator tube, or drum up interest for a conference your business is hosting, social media is a tremendous way for professionals to boost their online presence. However, you should always look for new ways to improve your marketing strategy. And the first step toward that goal is identifying your strengths and weaknesses. Do that, and you’ll be well on your way to crafting better social media posts in the near future.

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