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Skip to 0 minutes and 8 secondsIt is important to know the difference between monitoring and measuring social media performance, as these two techniques offer you vital insights into a campaign's success or its potential failure. Monitoring any campaign is fundamental for a business' success, as it allows you to know if the campaign is or isn't working. When monitoring a campaign, you need to consider the campaign's reach, user engagement, and its effectiveness in communicating the right message. Monitoring allows you to keep on top of any changes that need to be made to improve the campaign's efficiency. It will support you in meeting your business' planned objectives. Like all campaigns, it is important to measure its success to see what works and what doesn't work.

Skip to 0 minutes and 51 secondsOn a social media platform, the business has a chance to see and monitor target audience engagement levels and get to know customers. Measuring helps you gather valuable insights for improving future campaigns. There are many ways a small business can effectively measure their social media performance using the various listening tools available online, such as Hootsuite, TweetReach, and IceRocket. These tools offer businesses great insights into what their target audiences are discussing about a brand and its competitors. Social media channels offer a large range of useful metric systems to track a user's engagement, consumption, general usage, and their conversions. Metric system such as follows, likes, shares, comments, reach, and impressions are the general metrics used to monitor a user's engagement within a page.

Skip to 1 minute and 42 secondsOf course, these metrics vary depending on the selected platform, and it is better to keep and manage everything in the one dashboard.

Social media analysis

Now that you have selected the most appropriate social media tools for your needs, you can begin to orchestrate your social media campaign for your online business.

As with any marketing campaign, traditional or digital, it is important to ensure that you analyse the effectiveness of the campaign. In the digital marketing space, particularly social media, analysing on a regular basis provides you with an opportunity to adjust the campaign to improve its efficiency.

Social media analysis consists of three major steps:

  1. Listen and monitor: What is the most important thing to our target market? What are people talking about today?
  2. Analyse: How can we market in a new and different way?
  3. Measure: How successful are our online efforts?

Listen and monitor

There are many cost-effective tools available to assist in ‘listening’ to your target market, or potential target market, and what is being said about topics of interest, in relation to your brand, company, or competitors. By listening closely to what is being said about your brand, products or services, you are able to be more involved in and cognisant of the customer experience, and consequently more able to provide to your target audience what they want, when they want it.

Selecting the right listening and monitoring tool will depend on the digital marketing tool you are using (it is not recommended that you try and look at every tool here, just the ones that are most relevant to your desired campaign)

Analyse

Analysing what is being said on social media channels, provides a small business with an opportunity to identify new opportunities by either attracting new audiences, developing new products or services, or marketing in a more clever way than competitors.

See downloads for listening and monitoring tools'.

Measure

Conversion from exposure of a brand message to purchase or taking an action has been reported to be less than 4%. Small businesses need to measure their social media activities and how social media is contributing to their business goals.

What is the measure by which you will determine success?

  • Level of sales achieved
  • Number of leads
  • Increase of data capture

Following a process similar to what has been outlined above will improve the opportunity for your small business social media campaign to be successful.


Activity

Search the internet for a social media listening tool.

Tweet at #FLRMITDigimarketing a link of the tool and briefly say what you like about the tool.


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This video is from the free online course:

Online Business: Digital Marketing for Success

RMIT University