How to Track and Measure the Success of Your Social Media Campaign

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“Social media is a waste of time and money — I can’t believe you devote so much effort to it — How do you actually make money with social media?”

I hear this question all the time.  And the answer will be different for everybody, depending on what your business model is.  If you’re an industry expert, consultant or coach, the way you make money is by being credible and visible where people can sample your work and ultimately land on your site to buy whatever it is that you’re selling.

Many information marketers and industry experts have become millionaires using email marketing — and that’s good for them.  But what if you don’t have a large email list  or what if you’re just much better with social media — YES — you can make money with social media, you just have to treat these interactions the way you treat every other business investment; you have to measure and track to see what works, what doesn’t work and how to improve it.

Use social media to drive traffic

If you’ve been interested in driving more traffic to your web site and increasing your conversions, one of your best tools is going to be social media.

Lately a lot of experts have been touting the power of corporate sponsorships and if that’s something you’re interested in pursuing — then you’re definitely going to want to check out this amazing article on how to measure the success of your campaign and then you can share your results with potential sponsors.

In this article by Jenette Spayer, you can start tracking your social media success with nothing more than a spreadsheet.  Here’s where she recommends that you begin:

  • Interactions – These are the number of Twitter mentions, Retweets and Facebook stories created for a branded profile. This metric helps us understand how engaged and involved the audience is. A good example would be to use this measurement to see the level of conversation a brand ambassador generates for a product or service.

  • Unique Users – This shows us the number of people who interacted with our brands Twitter profiles or Facebook Pages; or in other words, followers that one way or another have replied to, favored or retweeted a tweet. In essence, we look for any conversation that a brand can generate on a product’s social media profile.

  • Impressions – A combined number of potential users that look at content associated with a user’s Twitter & Facebook profiles. Almost like a billboard on the highway, this is a traditional metric used for magazine and media circulation and one that most people can relate to.

 

 

Ivana Taylor is the publisher of DIYMarketers.com. In 2010 she ranked #21 out of 30,000 influential people on the Internet. She is the book editor for Small Business Trends, a contributing author to AMEX Open Forum and has appeared on MSNBC.

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  • http://blog.flightmedia.co/ Josh Coffy

    Great article, Ivana!

    Social media plays SUCH a vital role.
    Don’t get me wrong, I love email marketing, but that takes FOREVER to get going. :)

    • http://www.DIYMarketers.com Ivana Taylor

      Hi Josh – I hear you! I’m finding that people are getting far more engaged on platforms like Google+ these days and using Twitter to create engaging relationships.

      I guess it all depends on your strengths. Not everyone is good at email marketing. For myself, I find social media a better engagement tool than email.

      And there is a movement out there with folks like Phil Bowyer, http://philbowyer.com/ who have gone “anti-email” who keep their lists small and their social engagement high.

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