Social Media Metrics and What You Should Be Looking At.
ROI this, metrics that. We constantly hear about how to assess your social media benchmarks, and quite a few of them are pretty complicated. Bottom line, especially for small businesses, ROI really doesn’t need to be that hard to calculate. I’ve gathered together a few things that you can be looking at that will give you a basic understanding of how you are doing. The biggest thing here is that there are so many things that can be looked at, and so many that can seem very unrelated. No, you really cannot effectively quantify real, quality relationships, but you can put together enough stats to give yourself a really good idea.
I’ve chosen the “Big Three” to look at, Facebook, Twitter, and your Blog. You can apply these benchmarks to other social media platforms that you may be using, as well. the point is that finding your ROI doesn’t have to be that difficult, or time consuming.
- Total number of followers
- Total number of followers gained/lost over the last 7 days
- Average number of Retweets and/or mentions in the last 7 days
- Number of times you, your business, or your website got mentioned in the past 7 days
- Number of fans on your fan page
- Number of members in your group
- Number of valid comments left on your wall in the last 7 days
- Number of comments you left on other’s walls in the last 7 days
Blog
- Total number of RSS readers
- Number of unique readers in the last 7 days
- Number of page views
- Average time spent on site
- Referring pages
- Bounce rate
I hope this gives you an idea of how you can easily, and quickly, find the basic metrics of your social media efforts. Remember, it’s not how you measure but that you do. Metrics are nothing if they hold no value for you, and just as social media mediums are so diverse, so are the ways you can choose to measure. Find what is important to you, and run with it.
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Brian, ROI is a financial measure and only a financial measure. Return on Investment. Money in, money out. There are no multiple ROI’s. What you list here are NFI’s or non-financial indicators, which are perfectly fine … especially for small businesses.
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This one comment has cleared up so much for me. I have been lumping the two together in a singular package I’ve been calling ROI. Quite right though, thanks for the excellent point, Mark.
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Important to note, however, is that you can’t get return until you invest. You need content, tweets, posts, and engagement to see how these indicators change when content is pushed.
Too much focus on these numbers, IMHO, will make a small business crazy. Being authentically engaging and giving it time will help drive metrics, followers, comments, and more.
Patience is a virtue in social media; the wait for the success can be highly frustrating. (I guess that boils down to how you define success, too, eh?)
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You are, of course, spot on. I had thought that content was intended but I guess I should’ve been more clear. Thanks Jayme
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