Hashmeta Blog

8 Social Media Marketing Objectives And Metrics That Matter

[fa icon="calendar"] Mar 29, 2017 10:39:52 PM / by Terrence Ngu

 

Social Analytics
Source: Awareness

Social Media Marketing has become an integral part of many companies marketing strategies. But many of these companies are struggling to define clear objectives for their social activity and how to measure success appropriately.

The ever-changing social media landscape has made the measuring of social marketing even more challenging. Two years ago, when we first started Hashmeta, everyone was talking about the importance of being active of Facebook and Twitter and now the conversation has changed - Instagram is a marketer's best friend.

No matter how the social media scenes has changed, one of the most fundamental questions we should ask ourselves is what’s the ROI after all and how do you know that your social media marketing efforts are successful?

Before we dig into the all the different measuring metrics, it’s important to nail down your business goals. This is to make sure that we are measuring things that are inline with your company’s overall objectives. What are you hoping to get out of social media marketing?

By and large, these are the common objective most marketers are focusing

Marketing Objectives & Metrics

Benefits of Social Media Marketing according to Social Media Industry Report from Social Media Examiner

  1. Increase Exposure
    Metrics: Reach, Impression, View
  2. Increase Traffic
    Metrics: Page views, Unique Visitor, length of visits
  3. Increase Engagement
    Metrics: Likes, Shares, Comments, Pins, +1, Retweets, Favourites
  4. Garner Marketplace Insight
    Metrics: Survey Entries, Comments
  5. Develop Loyal Fans
    Metrics: Fans, Followers
  6. Generate Leads
    Metrics: Hard lead, Soft Lead
  7. Grow Business Partnership
    Metrics: Contacts
  8. Improve Sales
    Metrics: Orders, New Customer, Sales Revenue

To streamline the metrics, Social media and Content Strategy Consultant @Jay Baer shared on SlideShare that there are four main types of metrics that help marketers like you to understand how your social media and content marketing impacts your business

Consumption metrics: How many people viewed, downloaded, or listened to this content?
Pageviews, Video views & Downloads

Sharing metrics: How resonant is this content, and how often is it shared with others?
Likes, Shares, Tweets,+1, Pins & Inbound Links

Lead-gen metrics: How often does content consumption result in a lead?
Form completions & downloads, Email Subscription, Blog Comments, Conversion Rate

Sales metrics: Did we actually make any money from this content?
Online Sales & Offline Sales

Here's an illustration from @stephpchang Moz on how to use these metrics through the sales funnel.
Sales Funnel with metrics

Alternatively, you can measure based on the cost breakdown to gauge the ROI through the sales funnel:

  • Cost per impression
  • Cost per click
  • Cost per engagement
  • Cost per lead
  • Cost per sale

Sales Funnel ROI Measurement Metrics

What do you think? Does your business measure your social media marketing ROI? Which metrics are most important to your social media strategy? Leave your comments in the box below.

How-to-monitor-social-media-channels-cta

Topics: Analytics, metrics, Sales Funnel, Social Media Marketing, Statistics

Terrence Ngu

Written by Terrence Ngu