As you have probably discovered, measuring the success of social media efforts cannot be easily done using typical ROI metrics. Because social media is more of a communication channel for building relationships than traditional marketing media, measuring its success and worth requires a brand new approach.
There are several key factors that financial firms should track in order to gauge the success of your digital campaigns, as detailed in the infographic below.
*REMEMBER: After your measure your social media results, don’t forget to analyze them! Look at different trends and decipher what action you took to resulted in that growth. If you aren’t seeing the results you want, make a change! Experiment by changing up the time of day you post, how often you post and the type of content that you share most regularly. PRACTICE MAKES PERFECT!
Katie Malone
@ktmalone8
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- How Financial Advisors Can Measure Social Media Success [INFOGRAPHIC] - July 31, 2014
These are great areas to measure. I am a believer that we should measure things other than followers and likes. After all, it should be about building relationships and have an engaged audience. When that becomes one of our goals, then we can focus on conversions etc.
Exactly. I let people know (repeatedly) that site traffic and stats are the most important things to note. Engagement, influence, and relationship building should be a top priority.
Hi, I really do agree with given information here. I just say that there are three key in measures to observe; reach, engagement and conversion.
Ex.
Reach - How various users did you impact with your post or message?
Engagement- How various users cooperated with your post or message?
Conversion – How various users took action because of your post or message?