This blog outlines the basics of tracking and analyzing social media and digital marketing. To get access to the example, please send us a message!
Basic Social Media + Digital Marketing Analytics Planning:
Step One: Make a list of rented, earned, owned and paid tactics.
Rented means your social media channels (you don’t really own them.) Owned are assets like websites and blogs. Finally, paid are things like ads, affiliate relationships etc.
Step Two: Review your business objectives.
I’ve taught social media analytics to a lot of marketers and business owners, this step is missed by 99.9% of them. If you don’t know how to connect the dots between your business and your marketing efforts – how do you know if it’s actually working?
Step Three: Review your goals.
Simple example, let’s say you’re a start-up and you need to generate brand awareness in a specific location (Calgary) – you want to keep an eye on metrics such as # of followers in that location. To make it SMART, it might be an increase in the number of followers from Calgary from 15 to 200 in Q1. Yes. That is a soft metric, but it’s better than guessing…
Step Four: Collect the data. (Via Native Analytics like Facebook, Twitter, LinkedIn, as well as Google Analytics.)
It is really important to ensure that you’re only collecting the data you need to perform your analysis. Make sure you’re not collecting personally identifiable information. Always remember that you are responsible for keeping any data you collect safe and secure!
Step Five: Build out your tracking spreadsheet.
Keep it simple. Track what you’ve done month over month, and what the results were. (Include all relevant costs.) Remember that your time to create content technically costs something. Include that! This report is designed to give you an idea of how well you’re doing online. The more accurate the information, the better the report.
Step Six: Analyze.
You should have a clearer picture of how things are working. Keep in mind that you’ll want to track for a few months before making drastic changes to your social media plan. If you consistently report m/m you should be able to see trends. Use this information to make decisions about all of your spaces online from rented to owned; earned to paid.
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