One of the biggest worries for any marketing department when it comes to social media marketing is – where is the return on investment? Why are we spending so much on social when it doesn’t clearly show tangible results or seem to generate ROI?
It can sometimes be tricky to track and demonstrate ROI with digital and social marketing. This is why social media marketers need clear, achievable and measurable goals which have been set in line with overall business objectives. If you are regularly disappointed at your results or just don’t seem to be making progress (or you’ve got the marketing department on your back), here’s a few pointers as to where you could be going wrong…
A recent survey by Manifest named tracking results as one of the six main challenges facing social media marketers at the moment, with 17% of respondents reporting struggling with tracking and analytics. If you can’t access the data you need, or you don’t know how to make sense of the data you do have, how can you hope to get a sense of where you are in reaching your goals?
In order to achieve a goal on a platform such as a social networking site, you need to choose something tangible to track. You can’t base an objective on a vague concept or idea, such as a ‘general improvement in engagement’ or a ‘more positive impression of the brand among customers’. You can make a case for progress in these areas using anecdotal evidence, but this isn’t enough. You need hard data. You need to set a goal and say to your team “here is exactly how we will measure it and here are the metrics we will use to do so”.
Many social media marketers are ambitious, and there’s nothing wrong with that. But if your goals are so stratospheric that you never reach them, you’ll always end up disappointed. This is not just demotivating, it can also be bad for the brand as you never have a sense of what you are actually achieving.
The Manifest research showed that 24% of social media marketers don’t have a proper strategy in place. This is a serious mistake. A proper social media marketing strategy helps to guide the development and running of social campaigns. It clarifies what you’re aiming to do, who you’re aiming to reach and what you hope to achieve. Crucially though, it lays out a plan for how you’ll get there. This plan is detailed, with bench markers at every step of the way. If you’re following the strategy closely, you’re more likely to achieve your goals.
For help and advice with social media marketing strategy, tracking and analytics, get in touch with the experts here at Ambos Digital. We’ll be happy to help.