Measuring is good business

By Sue Voyles / February 22, 2022 / , ,

If we’re in business, then we are probably measuring something. It may be our bottom line, number of proposals being written, clicks on our website, or our cost of goods sold.

Business and social mediaIt’s easy to quantify profits, payroll costs and advertising expenses. Gauging the effectiveness of social media efforts is also important and the good news is that it can be accomplished.

So how do you measure social media results? Here are some questions to consider.

  • Have you set a baseline to start from and then determined your goals?
  • Are your number of followers, connections and likes across various social channels growing steadily?
  • What engagement is happening between you and your followers (shares, comments, likes)?
  • Are people promoting and/or recommending your business on your social platforms?

Most social media platforms have analytics built right into them, so measuring is relatively easy.

What does success look like on social media?

Measurement is a good activity, as long as we are clear about why we are measuring and what success looks like. Not all businesses should expect to make a direct sale via social media.

Think about it, would you spend thousands of dollars on a house solely based on a Facebook post? Most likely not, because you’d want a personal tour of the house and to walk around outside of the property. (And yes, that could mean a real estate agent was giving you a virtual tour on their cell phone, but it’s still a chance to “see” the house before buying.)

Metrics are important, and you can generate any number of reports and analytics for your social media channels. But the numbers don’t mean much unless you understand what you are trying to achieve on social media and then put realistic measures in place.

Remember that “social” is an operative word in social media – it’s not all about selling, it’s also about connecting (socializing so to speak) in a meaningful way with your followers. And don’t forget the value of brand-building that can come from social media, as well as the role social platforms can play in “listening” to your audience.