It has always been a struggle to define success in marketing
. Historically, brands or industries have succeeded in finding accurate ways of quantifying marketing success, but those methods were based on representative data - not thorough accounts.
With social media metrics, brands can be more sure than ever of just what their marketing is getting them. Here are some examples of how social media metrics can work:
On Facebook, important metrics include Total Fan Count, Fan Growth, and Fan Growth over time, as well as engagement metrics like Likes, Shares, and Comments, and Social Customer Care metrics like Response Rate, Response Time, and and Questions Responded minus Ignored (QR-I).
On Twitter, engagement metrics include Favorites, Retweets, and Mentions, which happen anytime someone Tweets about a brand.
On Instagram, brands can grow their Followers, and watch engagement based on Likes and Comments.
On YouTube, users can uniquely engage with content by either Liking or Disliking it, as well as by sharing it across numerous social media platforms.
Instead of tracking viewing numbers per household for TV ads, brands can track Click-through Rate, or CTR. This shows the same idea (price per ad relative to the number of people seeing it), but with a much more exact figure.Give up surveys that test for brand affinity
, and turn instead to metrics like Like/Dislike ratios on YouTube. For brand awareness, use a social media listening tool to see how (and how many times) your hashtagged campaigns are being referenced.
There are innumerable social media metrics. The key is to use the ones you need for your campaigns to inform your marketing decisions. Every decision should be social media metrics-informed...