Made to measure – How to calculate the value from your B2B social media strategy

Social media is no longer just an option for B2B marketers – it is an absolute must. Here are some simple tools to measure and improve its effectiveness

Many B2B companies have failed to embrace social media as a marketing tool simply because they find it impossible to quantify its effectiveness. Others are still not aware of the need for a social presence, and some are still skeptical of its value.

While not everything on social media is quantifiable, there are some metrics that you can use to measure, and even improve, your social strategy.

Reach/Impressions
This is the total audience spread of each of your social media posts and can help you understand how popular each post is. For example, using a certain hashtag can increase your reach – as can retweets, shares or having a large following. But remember, just because hundreds or even thousands of people view your posts, it doesn’t mean they’re going to engage with them.

Engagement
Engagement is one of the most important metrics to bear in mind. Engagement measures the likes, comments and shares on each of your social posts and is an effective way to see how receptive followers are to your content. Is anyone commenting on your posts? Are they sharing them? Compare these factors against your reach to find out which posts do well and which ones don’t to help tailor your content and improve your engagement.

Page views/profile visits
Although page views/visits are simply the amount of traffic your social profile is receiving, this is one of the most important metrics you can analyze. Your profile will ideally have a link to your website, contact details and other important information in order to drive inbound marketing campaigns and capture sales opportunities. In other words, your social page is your lead generator, so make sure to pay attention to how much traffic you’re receiving.

Followers
Without a dedicated following, you’re going to find it hard to measure any of these metrics against your social goals. But even with a large number of followers, social profiles can go stagnant with no organic growth. Reasons for this can include a lack of relevant content, a lack of variety in your posts, and not engaging with other people’s updates. Keep an eye on your follower metric to see if your social strategy needs a bit of a shakeup.

Don’t be anti-social
Think carefully about your goals with social media. Are you focused more on generating interaction from replies and comments or on spreading a message through retweets and carefully crafted posts? Be sure you’re analyzing the right metrics for what’s important to your social strategy right now.

Jon Brown is an Account Executive at IBA International.

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