Are you running paid social media campaigns but don’t know how to tell whether or not they’re succeeding? It’s a common question for businesses; without understanding the effectiveness of your campaigns, it’s impossible to know what you should be doing to improve.
In this blog post, we’ll cover the basics of determining whether your paid social media strategy is working and provide actionable tips for making adjustments as needed:
- How to know if your paid social media strategy is working
- How to measure success of your strategy
- How to troubleshoot if your paid social strategy is not working
How to know if your paid social media strategy is working
Now that you have done the work and hired a team, how can you assess whether the team is performing? There are a few key indicators that will show you whether or not your paid social media team is working.
- Increase in chosen action: First, when you start using paid advertising you will choose what action you want the end user to take. This could be that they come to your website, fill out a form, make a purchase, or any other action that is beneficial to your business. With paid advertising you should see an increase in activity in this action. If you are driving individuals to your website, sessions should rise — particularly for new users. Or if you are asking them to fill out a form, then form fills and leads should see a large upsurge once paid marketing starts.
- Growth in social media engagement: This can be measured by looking at likes, comments, shares and other forms of social interaction. If you're seeing more social interaction on your posts, it's a good sign that your team is doing their job.
- An uptick in social media reach: This means that more people are seeing your content and that it's being shared with a wider audience. If you're seeing your social media reach grow, it's a good sign that your paid social media team is effective.
- Improvement in social media ROI: This can be measured by looking at the cost per lead, cost per click or other social media metrics. If you're seeing a decrease in social media costs, it's a good sign that your team is working effectively.
How to measure success of your strategy
Paid social media is a great way to connect with customers and promote your business. But how do you know if your efforts are actually paying off? Below are some key metrics that you can use to measure the success of your social media campaigns:
- Conversion rate: This measures the number of people who take a desired action after seeing your content. This could be anything from signing up for a newsletter to making a purchase. The higher your conversion rate, the more effective your social media campaigns are at driving sales.
- Engagement rate: This measures the number of people who interact with your content. This can include things like likes, comments, shares and clicks. Engagement is important for paid marketing because it shows that your ad is resonating with your target audience.
- Reach: This measures the number of people who see your content. Reach is important because it helps you gauge the potential size of your audience. The larger your audience, the more people you can reach with your message.
- Social media ROI: This measures the return on investment of your social media campaigns. It takes into account things like leads generated, sales made and website traffic driven. ROI is an important metric because it helps you determine whether or not your campaigns are actually making money for your business.
Ultimately, paid social media helps with targeting audiences and driving sales just as organic social media does. The advantage to paying for this type of value? Speed to market, campaign sustainability, and good old fashioned message frequency. Paid social media should not be ignored as part of an integrated social media strategy. When done correctly, it can supplement reach, frequency, and overall performance.
How to troubleshoot if your paid social strategy is not working
If you're not seeing the results you want from your social media campaigns, it's important to troubleshoot and figure out what's not working. Here are a few tips:
1. Check in with your team regularly. Ask them how they're feeling about the campaign, what's going well and what's not going well. This will help you get a pulse on the team and figure out what's not working. They may have ideas for changes that could help improve social media ROI.
2. Take a close look at social media analytics. This will help you identify which social media channels are performing well and which ones are not. You can then make adjustments to your social media strategy.
3. Make changes to your social media strategy. This may mean changing the social media channels you're using, the content you're sharing or the way you're managing your social media campaigns. This is why it is important to also always be testing and trying new things with your social media strategy.4. Be open to change. Social media is an ever-changing landscape, so it's important to be constantly learning and evolving in order to be successful. If something's not working, don't be afraid to make changes.
If you've tried all of the above and you're still not seeing the results you want, take action. You can offer additional training or hire a social media consultant to advise your team. Ultimately, you may need to let some people go and build a new team.
No matter what business you're in, big or small, connecting with your customers is key to success. And one of the best ways to do that today is through social media. But simply having a presence on social media isn't enough. You need to have a strategy for how you're going to use it effectively.