Growing your business brand is possible once there is sufficient awareness of your brand to potential and existing customers. Social media is being embraced by most marketers with the aim of building and growing their businesses and their respective brands. Many business owners make the mistake of assuming success through social and digital media when they get more followers and likes. This is a false positive result in business because the actual product sales would be lower.
The huge number of likes, followers and retweets could be from bots or people wishing to spread some negative information about your brand. To actually measure the performance of your business with time, before and after initiating the use of social media, you will need to take things deeper using the following metrics as guides.
Growth of leads
Leads give exact information about the performance of your business. Having many followers on social media will not give the number of people who actually purchased the items they liked or even commented on.
You can measure the growth of business leads and subsequent sales by using attribution programs that will give direct representation of positive leads or actual conversion.
Precedent activities before the conversion will give the marketing team and you more information about the effectiveness of the marketing strategies used.
Having a high number of brand searches means that there is word going around about the product or service you are offering the market. Once customers, potential and existing, see an interesting advert or information on social media, they will be pushed to investigate further and buy the product. This search engine activity helps build your brand awareness.
If you are like many people new to digital and social media marketing, you may be wondering about how these are measured. Well, there are incredible tools like Google trends and Google analytics that will get the marketing performance gauged accurately.
When you are unable to do this personally, engage a highly accredited SEO agency to help you get more than trickles to your website.
The sentiments of the public will go a long way in crippling or boosting further success of your business. If the customers express dissatisfaction with the technicality of the website or the products, engage with them reasonably, offer assistance and/or change the design if that will be a viable solution for your business.
The speed at which your website is accessed is a credible measure of the success rate of your social media campaign. Tracking changes in the number of clicks to your website at all times is important.
External factors you may or may not know could be affecting your business and the clicks on your link will be your metric to guide you when making marketing and other management decisions.
The conversion rate
A conversion implies sale/sales. The objective of any business is to constantly make profits. Therefore, you and your marketing team should be active about keeping sales at an all-time high. When a customer almost orders but stops last minute/second, there will be a reason for that. Find ways of reaching the potential customers. It could be that the button for placing/confirming the order was inactive, some information being asked wasn’t there or they were not willing to divulge. Email remarketing could be a great way for you to reclaim the almost lost sale. Ignoring such cases will reduce conversion rates.
In conclusion, digital and social media marketing requires more energy input than you would think. There is no easy work. Carefully analyze the performance of your business and, with your marketing team, gorge the best way for increasing leads and making more money. Basically, find ways to achieve your objectives by monitoring these metrics.