Updated: Jan 4
In my last blog for The Marketing Power Hour, I wrote talked about auditing your social media channels. As a re-cap, this helps you understand which channels are performing well and which need a different strategy to ensure you are utilising your time and resources efficiently.
The word strategy can sound complicated, time-consuming and a bit dull! In reality, if you look at 'strategy' as a road map, helping you to grow your business, then you will see the necessity. It also saves you time over the long run and is quite cathartic!
As with anything in life, goals are essential. They give you a purpose and a direction for your social media activity. Without them, it is hard to measure success and return on investment - whether that is your time, or paying someone to manage your social media channels or digital marketing activities.
Your goals must align to your overall business strategy, and they need to be SMART, which will ensure the tactics you engage in leads to business results. So while getting lots of 'likes' might be great, you need to be honest and ask yourself if they are creating business value and helping your business grow?
SMART goals are:
Recently I read a blog post about how boring SMART goals are; instead; they should be beyond measure and fanciful - brilliant advice for a VISION statement, not so useful for growing a business!
So try and follow the SMART methodology and consider the following:
It is essential to be precise. If you want to 'increase the number of followers', does that mean you want 100 or 1000 new followers?
'Improving customer service" is valuable for business, but it's not a goal unless you have a way to measure that improvement, such as 95% of our customer service reviews will be five stars.
You need to push yourself, but you also need to be able to reach your goal. Otherwise, you will give up - so be realistic about your time, and what is important.
As already mentioned, each goal needs to link back to your overall business objectives. If your plan involves increasing Instagram followers, make sure you understand how that will benefit the business. (Make sure you look out for our 'Insta chat' later this week.)
Being accountable is vital to achieving goals, so include a time-frame for when you check in on your success, you may also have some milestones along the way to keep you motivated and on-track.
When it comes to choosing goals, there are several categories you can consider from brand awareness, identifying and nurturing leads to building loyalty from your customer base.
In a recent survey, social media scheduler Hootsuite identified several key goal types, and these are their top four.
Build brand awareness
Creating brand awareness is a critical step in promoting a new product or reviving an older brand. In social media terms, it is an indication of how many people know you exist and understand what products and services you offer. You can measure things like brand mentions (tagged or not), impressions and shares.
Manage brand reputation
Brand Reputation relates to how people view your brand, depending on your business type, will depend on your focus, such as being considered a thought leader to high customer satisfaction rates. Net promoter and customer satisfaction scores are useful measurements.
Build and manage an engaged community
Building an engaged community is ideal for brands who want to launch new products and ensure regular ongoing sales. An engaged community keeps you top of mind, so audience growth rate, click-through rate and engagement rate are good ways to measure success.
For businesses who are selling through social media channels, it is easy to show value for the work you are doing. Again the click-through rate is suitable for this, and if you are using social media ads, you can also measure metrics like cost-per-click.
Good luck with setting your goals!
Any questions, do let us know, and join our community on Facebook at The Marketing Power Hour and be part of the conversation!