Goals play a huge role when it comes to any endeavor you start and attempt to finish. Social media goal setting should not be any different.
I’m often asked,
“How do you measure ROI (Return On Investment) when it comes to social media?”
It’s easier than you think.
The number one component in that equation is to have clear expectations and goals. You need to set down with yourself, if you’re an entrepreneur or have a meeting with your staff if you have a larger company and hash out exactly what you want to gain by having a social media strategy in the first place.
Your social media goal setting should also be in line with your current company objectives and missions.
Here’s a couple of examples:
Company A is a wedding company. Their company mission is to provide the perfect wedding cake to it’s clients (wedding planners) that is one-of-a-kind and over the top. Part of their overall marketing strategy is to target a specific audience that can afford elaborate cakes and appreciate the work that goes into Company A’s creations. Their social media goal setting includes solid audience targeting techniques for potential leads that live within a specific geographic area. They expect their social media marketing strategy to attract their target audience, have that audience join their online community and over time begin to purchase cakes for their wedding events.
Company A will benefit, but should not be limited to using Pinterest, Twitter and Facebook as a fall back. They have a website that is well maintained and have lots of fresh content that wedding planners can use.
Company A’s goals are to establish an online community, provide content & obtain leads. The value of a lead has to be evaluated by Company A. Quaified leads are what Company A is looking for and expecting to get from their social media efforts.
Company B is a a non-profit organization that helps starving artist get exposure for their works of art. Their company goals are to identify truly talented artist and connect them with reputable art galleries, museums and possible potential buyers. Company B survives and keeps it’s doors open from generous donations & small commissions on art work sold directly through their company.
Company B would benefit also, but is not limited the use of Pinterest, Google+ & Facebook. They’ve just had a website designed and it is live. There is an active blog and an extensive gallery to display art work for the artist they represent.
Company B’s social media goal setting include establishing connections for both the artist and organizations, to include purchase of art. Company B intends to spread goodwill with the use of social media and attract a younger audience.
These are two example where both companies will be able to measure their ROI with no problem at all. They have clear goals and they have a clear understanding of the cost associated with their efforts and the end conversion.
There is a second and pressing issue or question that is often asked:
“How long does it take to see the results I expect?”
Unfortunately there isn’t an easy button and no exact answer. The results should be measured over a period of time. That doesn’t necessarially mean one or two weeks. It takes months of social media usage and tracking of statistics to get a solid social media strategy that will take off.
Don’t take this as a “set in stone” interaction to stick with a social media network that is doing lousy. Also don’t make the mistake of not making any changes until six months from now. What I’m saying is that you have to give you actions a chance to work. That will take months, there is no quick work around.
Here are some suggested and recommended action items to look at:
- Are your efforts yielding consistent growth?
- Increased audience engagement could mean your audience appreciates your content.
- Your followers should start behaving the way you intend for them too. That could simply mean more traffic to your website.
- Just remember, it’s a proven fact that you’re more likely to accomplish your goals if you write them down & review them often.
Here are a few things to consider when it comes to your social media goal setting:
- What were your goals for yesterday, last week, last month, last quarter or even last year?
- Did you meet any of those goals?
- Did you exceed any of them?
- What are your new goals?
- What didn’t work well for you?
- What could you have done better?
- What needs to be in place for the period?
- How long have you been tracking those goals?
- Do your goals make sense?
- Do you need to update your goals?
There is no right or wrong. Consistency is what is needed to ensure a Social Media Strategy that will work for your specific company. Re-evaluate those goals and continue to focus on the ones that work great for your brand.
How do you measure your social media goal setting? Have you taken the time to layout a social media strategy?