Social Media Strategies Your Business Depends On

purelysocialmedia

Note to our readers:

Hey guys! It’s been a while. We’ve been super busy trying to build our brand and tending to our clients.  But we’re back and coming at you with more posts on a more regular basis. 

We’ve decided to work with freelance bloggers to help diversify the information that we bring to you, as well as stabilize our post frequency, so you have something to read from us on a very regular basis. This week’s article is written by Holly Sturgeon, a beauty and fashion blogger from the UK who has a passion for social media and loves to dig up information to bring to you guys. Welcome to the team, Holly! Hope you all enjoy!

Back in the days our businesses depended on local and national advertising in Newspapers, on Radio and Television. Whilst those things are still important for spreading the word about your business, other options, (Free options at that – Thanks us later!) are now available.

Social Media has pretty much dominated our lives over the past few years with more than 307 million monthly average users on Twitter alone. You might use social media for keeping track of your favourite celebs or for sharing your cute cat pictures rather than for promoting your business, but sharing your content on Twitter, Facebook and Instagram (or any other of the numerous social media platforms that are available) could actually prove to be quite fruitful.

Ever scrolled through your news feed on Facebook or Twitter and seen a blogger or business letting you know all about their latest product or service? Of course you have! Well that’s because those businesses have started their own social media campaigns and began promoting themselves by using different social media strategies including the one’s we’re about to mention.

Whether your business is a blog, a service or is product driven, your primary aim of using social media will doubtlessly be the same and that is to reach new audiences and welcome new customers to your business. Here are a few social media strategies your business depends on:

Advertise Your Social Media Accounts

Of course, the purpose of using social media is to promote your business but your business also needs to promote your social media. (hear us out!). Presuming you already have a website, ensure you put your Twitter or Facebook handles on your homepage and in your ‘contact’ page. Customers feel more secure knowing they can contact you instantly and so letting them contact you via social media for any customer issues is a great way to attract followers and of course encourages user engagement. It’s also vital to ensure that when you are sent a query or comment that you reply to each one individually and personally. Also ensure you deal with all ‘personal’ or account queries via direct message to ensure customer confidentiality. All of this will ensure that your followers will feel safe and this is likely to result in return business.

Content

In order for this to work, it is really important to ensure you keep your feed current. Using apps such as Buffer or Hootsuite, you can schedule posts to appear on your timeline at your preferred times. In terms of what content to publish, businesses should always keep things professional with a hint of humour. Retweeting controversial users or using foul language are definite no-no’s but posting up the odd cute cat picture (obsessed!) will keep your timeline current and will encourage users to engage by favouriting, liking or retweeting your status. You should also consider keeping your tweets short (under 100 characters) as shorter tweets are proven to attract 17% more engagement.

Timing

Timing your updates is also important. According to Social Media Scientist Dan Zarrella, Twitter engagement for brands increases by 17% at the weekend. It has also been proven that Twitter users who use their mobile phones to browse their newsfeeds are 181% to be on Twitter during their commute. Perhaps consider posting in the early morning. The same applies to Facebook and Instagram (we’ve all done it) as we are all more likely to browse through social media platforms out of boredom whilst travelling.

 Images

Here we go with the cute cat pictures again – You are twice as likely to receive comments, replies, likes, retweets etc if you post an image with a link. So whether you choose to post a picture of your latest service or even a picture of the office Christmas Tree, you are encouraging people to engage with your brand. Engagement = visitors = Followers = Customers which is the aim of the game.

Hashtags

The hashtag trend started on Twitter but is now actually popular across most social media platforms. At the end of your status, placing a relevant yet popular hashtag will mean that your tweet will reach new followers. In fact, of all the information and advice given in this blog, this is probably the most important and successful tip. Here’s an example of how to use a hashtag:

 “Spending the weekend decorating the office. #springcleaning “

 Anyone who types “spring cleaning” into the search bar on Twitter will be able to see your tweet, this also applies to Instagram and Pinterest. Using more popular hashtags, including ‘trending’ hashtags (which you will see on the left hand side of Twitter or on the right side of Facebook) will obviously mean your tweet reaches a bigger audience, but that also means that more people use that hashtag and so your tweet will be pushed down the newsfeed very quickly, leaving a limited amount of time for users to see your status.

If you use hashtags that are relevant to your status, you will reach new users that are genuinely interested in what you have to say meaning you are more likely to encourage engagement and receive more followers.

You might want to consider creating your own hashtag. For example if your business is called “purelysocial” (shameless plug – We’re not even sorry!) then type your status similar to this format:

 “There’s only 6 weeks left until Christmas, Are you prepared? #purelysocialmedia”

If someone retweets your status, their followers will see your business name in the tweet, despite the fact that you’re not directly advertising. Clever huh?

Competitions

Everyone wants something for nothing. We all have entered a competition at some stage in our lives, whether it was in a magazine or even just buying a lottery ticket. Running a competition on social media can prove to be extremely popular and will definitely encourage people to follow you. Whether you offer a service or a product, running a competition on social media where the users are required to “follow and share/retweet” your status to enter will mean you will get a follower, who will share your status with their followers, who will then share it with their followers and so on. It can result in hundreds of followers and will mean more people will visit your website. Using clever hashtags (such as #win, #competition and #giveaway) for this, like previously mentioned will see your competition reaching the masses.

Paid for Ads

No-one really wants to pay for something if they can achieve similar results for free but we thought we should cover all options available to your business. Of course, there are paid options available on both Facebook and Twitter where you can start a campaign which see’s the platform advertise your service on newsfeeds. You might have seen “promoted” statuses on Twitter which are paid for advertisements and the ads on the right hand side of Facebook are also paid for. Advertising this way is definitely useful for those who have a budget to work with but can also be an expensive way of experimenting with social media.

Using social media can increase your customers greatly and is definitely something your business will depend on if you want to increase exposure online. Keep an eye on this blog for more tips on using social media to promote your business and feel free to submit your questions!

Until then, feel free to share your cute cat pictures with us @Purelysocialtip

Social Media Strategy Template

Originally posted on Scoop.it under Social Media News http://www.scoop.it/t/social-media-news-source

Originally posted on Scoop.it under Social Media News
http://www.scoop.it/t/social-media-news-source

K.I.S.S (Keep It Simple & Sweet)

Keep it simple stupid graphic created by Purely Social Media with Canva

created by Purely Social Media with Canva

So recently while working on a project a colleague of ours kept referring to this acronym K.I.S.S. (Keep it simple & sweet) and it struck a cord. We thought it wise to write a blog article on this acronym and how we believe it relates to social media.

First and foremost, time and time again we see businesses over-think and over-complicate their social media efforts. Keep in mind that social media is intended to be fun and a virtual space to engage with others, that’s it! If you make a sale or gain a new customer through social media that’s fantastic, but if that is the primary focus of your social efforts you’re going to seriously struggle. People are tired of being marketed to and they certainly don’t want you doing it on their social accounts, so when it comes to marketing your business on social media it’s best to get  creative but keep it simple!

Before you even jump into the social media space you need to ask yourself a few questions. (The following questions were presented by Mark Schaefer at Social Media Success Summit 2014):

  1. What makes your business unique? Why do your customer’s choose to do business with you? It’s worth it to take some time to survey your current customer base and ask they what it is about your business that gets them to continue to do business with you. The value that you think you bring to your customers and they value they perceive you bring are most likely quite different.
  2. What is your overall company culture and can it support a social media presence? Is your business flexible enough to make the necessary and timely changes that social media often calls for?
  3. Are you open to listening to others, building relationships and engaging with your potential customers? To be successful on social media you need to remove your brand’s ego and be open to and genuinely interested in learning about others. Observe what is happening in your space and then dive right into the conversation. If you plan to have multiple people within your organization participate in your social media, take the time to create some guideline and rules of conduct to avoid avoidable hiccups.
  4. What platforms are right for you? We’ve said it before and we will say it again you do not need to be on every platform at all times. It is best to take each platform one at a time and build a strong presence. Keep in mind that not everyone is on every platform so do your homework. Where are your customers and where is your competition?
  5. What will be your source of rich content? This question will be simple to answer if you’ve taken the time to really answer the previous questions. Blogs, podcasts and videos are all great sources of rich content. Determine how you can enrich and enhance old and existing content. Update older blogs, convert a blog into an infographic or short video. There are lots of inexpensive and free tools available to help business owners create unique and interesting content.
  6. The final and most important question is “What does success on social media look like for you and your business?” It’s best to get a few of the key individuals in your organization to contribute their thoughts on this topic as well. It’s best to set goals and define success so you can know when you’ve achieved it and set new ones. Just remember that social media success takes time and patients, trial and error, so be consistent and clear with your efforts.

Action Plan

Once you’ve taken the time to answer these questions now it’s time to create a plan. This is actually the first step we take with all of our clients. Create a plan of action. The number one issue with social media is that business can begin to feel overwhelmed with content creation and posting when there is no plan in place. Once you’ve done a little investigation into your competition and have determined what your source of unique rich content will be map out your week. For example, Facebook is not a platform that requires you to post everyday multiple times a day, but Twitter, on the other hand, requires multiple posts throughout the day and a higher level of engagement.

Map out your week and be sure to include weekend posts. Even though you’re on these platforms for business purposes most of your followers and customers are there for entertainment and interactions. People are consuming content on their commutes to and from work, on their lunch breaks, in the evenings and on the weekends during their down times. Post your content to be visible when the most amount of eyes are available. If you choose to post on LinkedIn consider posting between 6:30am and 7:30am or after 6pm. Writing a blog? Research shows that Monday’s at 11am is the best time to post; however, we have found that Tuesdays and Thursdays at 11am are best for us.

Originally from J Campbell Social Marketing

Originally from J Campbell Social Marketing

Determine what type of content you will share on which days and to which platforms. Here is just a framework to help you understand and guide you in developing your own plan:

  • Monday: Answer frequently asked questions
    • LinkedIn 7am & Facebook 11:30am
  • Tuesday: Post blog
    • Google+ 12pm & Twitter 11am,12:15pm, 1pm, 4:30pm, 5:45pm, 6:30pm
  • Wednesday: Share an infographic or video
    • Google+ 8am & Facebook 12:30pm
  • Thursday: Share a DIY or tips
    • LinkedIn 6pm
  • Friday: Share an aspect of your company culture or highlight the achievements of an employee
    • Facebook 9am & Google+ 11:45am

Keep in mind that you do not want to post the exact same content on the same day to multiple platforms so consider having 2 categories per day or re purposing old content. Another thing you can try is creating two images and two versions on copy for the same piece on content. But no one wants to see the exact same thing you posted on Facebook on Google+ 15 minutes later. The most important thing is to have fun with it. Think of social media as your bridge between Public Relations and Marketing in real time. It allows you the opportunity to engage and communicate your brand in real time. Keep it simple, make it fun and be authentic and you’ll soon find your social media success!

If you find yourself struggling, shoot us an email. We’d be more than happy to give you a few pointers to put you in the right direction. In the meantime, share this article with fellow professionals and small business owners who you think may be interested and let us know what you think! We love chatting on Twitter or in the comments below!

Top 3 Reasons to Hire a Social Media Professional

1

Social media marketing is a not a difficult concept. It’s pretty logical and straightforward once you understand the basics, but a lot of times, you simply don’t have the time to break it apart and figure it out. Social media management requires consistency, constant effort. It requires strategic planning and research, and can turn into a full-time job if you’re really trying to make your social media presence work for you. The problem is that you didn’t go into business to spend 4-8 hours a day on your social media marketing. As a small business owner or an independent business professional, that time can be spent doing other things for your business and focusing on your core values.

Most professionals understand the importance and value of social media management. Even so, social media management is usually the first thing to fall to the wayside due to the fact there is simply not enough time to execute an effective social media plan. That is where social media professionals come in. As social media professionals, we’ve dedicated our time and energy to focus on mastering the art of social media management. Due the fact that social media marketing is what we focus on, we’ve taken the time to learn how to make social media work for you.

Here are 3 major reasons to hire a social media professional.

1We know all things social media, just like you know all things pertaining to your industry. You wouldn’t let your local plumbing expert build you a car because your local plumbing expert is neither a mechanical engineer, nor an auto mechanic. If you want it done right, it just makes sense to hire an expert to do expert work. We always say not to overthink social media, but you really shouldn’t underestimate it either. If you want your social media platforms to be effective in helping to grow your online presence and increase revenue, this isn’t something you want to half-ass. Consulting a professional will help to point you in the right direction and enable you to understand where your focus should be pertaining to your social media account. Often times, we try to absorb too much at once, and when you’re trying to start, operate, and market your business, it’s hard to figure out what aspect to focus on. A good social media professional can help you assess everything and put it into easy, bite-sized pieces that can better fit into your schedule.

2You want to get to the next level in your business. We’ve encountered several clients who’ve done an awesome job in marketing themselves via their social media accounts along with other methods, and seem to be experiencing great success from their organic growth, but have gotten to a point where they don’t seem to be growing anymore and the strategies they’ve previously implemented have become less effective or completely ineffective. At this point, it makes sense to contact a social media professional to help you get from behind that brick wall. As professionals, we can assess your current strategy and pinpoint where the issue is and how to improve upon it. If you seem to have done a great job on your own, imagine what can be done if you bring us in to help out!

3You simply don’t have the time to figure it out BUT you know it’s important and want it done right. There’s no shame in admitting that you don’t have the time to do social media, the shame is when you completely ignore it and act as if it’s not important. (Shame on you!) Several social media professionals, including ourselves, offer the option of full implementation, where you essentially outsource your social media platforms to us and allow us to manage the whole kit and caboodle. This is where you absolutely MUST MUST MUST hire a professional. Social media professionals, the good ones anyway, can help you create an online identity for your business; not just a presence. An online identity is essentially your brand i.e., the culture of your business, its voice, stylistic aspects, appearance… all of those factors that are usually afterthoughts or non-thoughts to a non-professional are primary points of focus to true social media professionals. It’s the little things that set you apart from the competitor that a social media professional can contribute to your business when you don’t have the time. We take the time to understand and dissect your target market and mold your social media marketing platforms to fit that demographic.

Easy peasy, lemon squeezy…Basically it makes your life easier by hiring a social media professional. Those 4-8 hours it takes to make your social media what it needs to be to differentiate yourself could easily be spent focusing on the core values of your business/ personal brand. Even if you only seek consultation and don’t go for the kit and caboodle route, you can save time. If you can save an hour a day, 5-7 a week, 20-30ish a month, where would you invest that time? A nap would be nice, meditation, lunch, a new project, a craft, perhaps? As entrepreneurs, we struggle with time and often try to be too many places at once, with a social media professional, you can streamline all of that and be more efficient with the mere 24 hours a day that we are all allotted. It’s really a no brainer =D

As always, share your ideas with us. We’d love to hear what you have to say. We hope you found this post useful and informative. Please leave your comments below and feel free to connect with us on Twitter!

5 Reasons Why You Should Love Advertising On Facebook Again!

making the connecion - LinkedinSo we’re back after taking a month off to enjoy a little rest and relaxation!

And what better way to kick off our return then with a post discussing all the reasons why we love advertising on Facebook again! So, as many of you know, back at the end of 2013 Facebook decided that make some changes to their algorithm that left a bad taste in the mouth of most marketers and businesses. We all have watched as page posts’ organic reach fell from 16% in February of 2012 to around 6.51% in March 2014, according to Edgerank Checker.

Many felt that Facebook was double dipping, charging advertisers to have their posts viewed by the very individuals they just paid to like their page. A lot of people were ticked off and began deleting their Facebook pages as a form of protest. There was even a YouTube video, Facebook Fraud, that went viral and urged many not to wast their time advertising on the platform. Let’s just say people we’re angry and many began to pull back their presence on the platform.

Truth of the matter is that from Facebook’s standpoint, their primary focus is on the general user not the business pages. We can only assume that they believed that by changing the algorithm they would maintain the integrity of the site from the user’s standpoint. However, now Facebook is a publicly traded company, which means it is now accountable to shareholders too. And shareholders want to see profits, which are only generated on Facebook through the ads that businesses run.

So we can only speculate that all of the Facebook Fraud backlash has led Facebook to make changes to the algorithm yet again as well as completely overhaul the process for advertising on Facebook to make it a lot easier on advertisers. So here are our top 5 reasons why you should love advertising on Facebook again:

1 6 ads for the price of 1. Now when you create an ad to drive traffic  to you website Facebook allows you to select up to 6 images that can be used to service your ad over the length of your campaign. This doesn’t necessarily mean that they will all be approved by Facebook but if you adhere to the ad guidelines a majority should be approved. We love this because it’s a great way to see which ads make the most impact on your target audience. Facebook has now made it very simple to do some A,B,C,D,E,F testing on your advertising which means they next time you run an ad you can make the necessary tweaks for even better results.

2Watered Down. Previously when you ran an ad on Facebook you probably spent a good majority of your time trying to figure out what the heck they were talking about. The different steps to running an ad were not very well defined and left most newbies to the process scratching their heads or giving up on running an ad all together. Now once you’ve selected the appropriate objective for your ads, all you need to proceed is clearly stated for you on one easy to read page.

3Conversion Pixels. This small line of code allows you to track the actions being taken on your website by the traffic you drive there with your Facebook ads. Now the downside of this is: if you know nothing about code or even how to access the back end of your website; you’re going to need to have your web developer place the code for you which can be a pain. However Facebook has even simplified this by allowing you to email the person right from the ad set up with the pixel code and instructions on how to proceed. The good news is that once it’s done, that’s it! You can continue to utilize the pixel over multiple ads. Just keep in mind that there is a pixel for each type of conversion that can happen on your site, such as checkouts, registrations, leads, web page views, adds to carts and more. So if you need some help, make sure you simply add all of the conversion pixels that pertain to your site all at once. Once a pixel has been added, you’re ready to start tracking the actions of your audience and can begin to determine how to best convert those individuals into paying customers.

4 Hello, Power Editor! So Power Editor is still a fairly new addition to Facebook ads, and many business owners still don’t know it even exists. This may explain why Facebook made it more accessible in the new ad setup under audiences. If you’re not using this feature when running your ad, you’re wasting your money. What we love about this feature is that it allows you to specify who your target audience is, providing you with more control over who sees your ad. In working with different clients we’ve seen a number of clients run ads that were shown to “everyone”, not realizing that they could target their ads to an audience within 25 miles of the physical location. If you choose, you can be very specific in your ad audience, but we would advice you find a balance between broad and specific. You don’t want to be too specific and miss the opportunity to attract new followers. Nor do you want to run the risk of being too broad that your ad isn’t seen by enough of your target audience.

5Campaign pricing just got simpler.  Simply tell Facebook how much you’re willing to spend over the duration of your campaign and let Facebook do all the math. We personally suggest selecting the lifetime budget option unless your plan is to have an ad that continuously runs, in which we would suggest selecting the daily budget. Understand that while Facebook may approve your ad and run it, your ad is competing for that space and therefore can get bumped by ads of advertisers willing to pay more per click or impression. Our advice is: if you select the manually set, price per click option, we advise increasing your bid to slightly higher then the price the system generates. Understand that when bidding, if you choose the pay per impression options your paying the every 1000 individuals who see your page. Paying per clicks ensures that you only pay for the people who appear genuinely interested in your page, because they clicked on your link.

As a side note, we want to stress that if you’re going to spend your hard earned money on Facebook ads make sure it’s worth it for you. To date, paying for page post engagements and page likes has proven to be quite ineffective from an ROI standpoint. Website clicks and conversions still remain the best option for measure the effectiveness of your ads against the money you spent.

As always we hope that you found this post useful and informative! We encourage you to leave your comments below and connect with us on Twitter!

Generating Reports

*For a better view of graphics simply click on the image to enlarge

So, one of the best ways to learn something is to see it in action. In Sexy Little Numbers, by  Dimitri Maex, there is a great example of why you want to understand the numbers. Based on his teams assessment of Motorola’s 2006 phone sales in the China:

The expense of marketing as a whole generated 26% of Motorola sales. Advertising accounted for 55% of those sales, at only 11% of the total marketing budget! For every 10,000 yuan spent on advertising, 382 phones were sold. However the same spent on in store promotions only resulted in the sale of 96 phones. Assuming the industry average is a profit margin of 30% per phone sold, Motorola’s was more than double with every yuan spent on advertising yielding 15 yuan.

You have the ability to assess your efforts in a similar way. One, that will allow you to begin to make strategic decisions. One way to do this is to export the data you have from your various social platforms into Excel files (.xls). Start with one platform at a time, be sure to save your original data, simply copy and paste the data onto a new sheet to begin your analysis. For the purposes of this post we’re going to use Facebook as the platform we’re going to export our data from. You should know that you can export data related to your Facebook Page from two places, Ads Manager, which provides reports on any paid advertising you’ve done on Facebook, or from your Page’s Insights.

Ads Manager

From your Facebook Home Page/Newsfeed click on Ads Manager from the menu bar to the left of your feed, under Messages and Events. Once you’re in Ads Manager, select Reports from the left side menu bar. When you open the reports page it will default to your General Metrics for the last 30 days. Select the dates you want the report to generate from then proceed to determine what type of report you would like. Facebook allows you to view and export 7 different reports:

  1. General Metrics: provides you with an overview of each ad, reporting reach, frequency, impressions, clicks, money spent, and actions taken.
  2. Website Conversion: provides information on all ads that we’re driven to purchase or register on the landing pages you’re required to link to your ad.
  3. Placement Based Metrics: provides information on the placement of your ad, was it seen in the news feed or the right column space and was it viewed on a mobile device or PC?
  4. Responder Demographics: provides information on the people your content reaches, providing you with their age and gender.
  5. Page Actions; provides you with insight into the actions people are taking with your ads, how many are liking, sharing, comments and engaging with your content?
  6. Video Actions: looks specifically at the videos you post, how many people viewed or clicked on a particular video, did they watch the complete video, did they share like or comment?
  7. Application Actions: looks at the application associated with your page, for example you may use this when running a contest on Facebook.

FB Screen Shot 1

Page Insights

From your Business Page select Insights to generated reports related to your page and posts. Click export, this will open the Export Insights Data box. Select the dates you want the report to focus on, determine whether you want the report to be based on your page or post activity, then select the old vs. new export (doesn’t make a big difference) and click Download.

FB Screen Shot 2

Go a head and open the downloads of your data, don’t feel overwhelmed by all the numbers on the page. To begin to digest this information it’s best to work with Excel’s Pivot Charts. Simply select the information you desire to compare, copy and paste data by columns or rows, for the sake of this exercise I suggest picking two or three things to compare at a time. For example from the original document you may select the date column, the type column (photo, link, or status), and the lifetime post reach column to paste into a new sheet. On the new sheet select Insert Pivot Table using the data you just copied to the page. Pivot Tables can be confusing if you’ve never used them before, but in the latest Window’s version you can easily drag and drop information to determine where it can be viewed the easiest.  Once you generate your desired pivot table you can convert that table into a chart, which is even easier to digest. If you’re unsure of how to use pivot tables, there are tons of videos on YouTube that cover the subject. But when you finally get the hang of it here’s what you can do:

Analysis1

Chart A

Pivot7

Chart B

Based on Chart A we can see that the posts for this account performed better in Quarter 1 than in Quarter 2. With this one piece of information you could review all of your posts from the first quarter, looking for any patterns or theme. Run another report for Quarter 1 posts and you may discover that there is a time of day that works best for your audience or you may determine that certain events or posts really attracted a lot of attention from your audience. Chart B looks at the paid ads this account ran in Quarters 1 & 2. Based on the chart we can see that 2 ads did really well in relation to the cost of the ad. What we want to point out is the last ad, Website Clicks New…, and provide a little back story. That ad was part of a two week promotion for a paid live stream event. The cost of running this add was $166, that included the graphic art used in the promotion and the cost of advertising on Facebook through Power Editor. The results of this advertising we’re 7 attendees for the live in store event, 35 online attendees and resulted in this business netting $700. This resulted in about a 24% profit margin. This company was thrilled to see that a few minor changes to their Facebook advertising strategy could not only generate revenue but also drive traffic to their site and events. It just take some time and a willingness to experiment.

But maybe after reading this post you determine you’re just not up to this whole Excel thing… Well we stumbled upon a little free tool that can easily help you analyze your Facebook efforts, Wolfram|Alpha. Make sure your signed into your Facebook page prior to clicking the link. But it does do an excellent job with providing you with important data in a easily digestible manner. Here’s an example for the same account we used above:

Analysis2

Or if you utilize a third party sight such as Buffer, Hoot Suite or Sprout Social, you can generate reports through these sites as well that will analyze all of the platforms your have linked to that particular site. Here’s an example of what it looks like from Sprout Social:

Analysis3

 

As always we hope that you have found this post to be beneficial. Please be sure to leave us a comment below, we would love to hear from you!

Data Sourcing & Analysis

 

Creating AContent CalendarWe hope that after last week’s intro into this series, you had some time to do some serious thinking about what success looks like for your business.

In the previous post, we discussed what you should be measuring from a beginner stand point, your inputs, outputs and outcomes. But you will need to look at much more if you want the complete picture, what you’ll need to look at is your business metrics. Business metrics looks at things like Market Share, Revenue, Profit, Average Order Size, and ROI. It is these metrics that allow you to access the overall health of your business and evaluate the impact of your social media efforts. But in order to do so effectively you will need to analyze one action’s impact at a time.

In Part 1, we were just beginning to touch upon data sources, the various software suites and platforms that store all of the information regarding your business. Let’s break down what these common data sources are:

  • Corporate Finance Systems: for many these systems bridge the gap between Accounting and Management. For these systems its all about the numbers, they look at everything from profits and losses to employee productivity to provide you with valuable insights to improve your business. Very often these robust systems are able to provide you with industry benchmarks and forecasts. Developers of these types of systems include but are not limited to  Intuit, Sage, Adobe and Oracle.
  • Media & Marketing Plans: maybe you did one before you went into business, maybe you didn’t. But typically if you take the time to do these thoroughly they can be a treasure trove of data and a great jumping off point when it comes to developing and implementing any marketing or sales strategy.
  • Customer Relationship Management Systems (CRM): these systems typically hold tons of data on your direct interactions with your existing customer base. Examples of commonly used CRM are Constant Contact, Mail Chimp, HelloWorld, Infusionsoft and Salesforce.
  • Market Research: which has never been easier in this digital age, are the surveys and polls you conduct with your existing customers. You’ll be surprised by what you will learn about your business if you only take the time to ask? Online services such as SurveyMonkey, make it fairly simple to get started.
  • Web Analytics: such as Google Analytics, provide you with insights on your website traffic, as well as your overall online presence.
  • Social Network Data: these are the insights provided to you by the social platforms you use.
  • Digital Ad Serving Platforms: online ads and banner management has never been more convenient and measurable then they are with Google Adwords. Your able to gain insights into the types of actions your ads invoke.
  • Online Videos: one can not deny that video is  becoming even more of an integral part of online marketing and social media. YouTube, by far the largest video platform, provides you with additional insights into the impact of your visual and media efforts

Once you’ve had an opportunity to compile data from all of your appropriate data sources, its time to analyze. Analysis is the ability to break down material into its component parts.  It is a process that serves to make improvements and streamline efforts. So it’s wise to regularly analyze your efforts. In Sexy Little Numbers, the process discussed is the A2A – Analysis to Action – framework.

Adopted from Sexy Little Numbers by Dimitri Maex

Adopted from Sexy Little Numbers by Dimitri Maex

It all begins with the data phase. This is going to require you to import all of your data into an Excel spreadsheet.  To simplify things you can utilize the Analysis ToolPak in Excel. During the analysis phase you want to figure out what worked and what didn’t work by asking the right questions. For Example:

  • Does one ad work better than another?
  • Does time of day and day of the week factor into a campaigns success?
  • Does length of campaign play a part?
  • Which products or services did well during a particle campaign?

From here you need to begin testing. What’s working, and what would the impact be on your business if you saw a small percentage increase or decrease? Knowing what doesn’t work allows you to re-work content, redistribute it, and analyze the new data. You have to be willing to do a little experimentation, going beyond A/B Testing and begin running A/B/C/D/E/F Testing.

Moving in the process from testing to share and execute, is the point at which action is required. In terms of the A2A framework the share step refers to sharing the insights of all the analysis you’ve done with your company’s team. Together you can begin to develop more engaging content and plan execution strategies based on the information your organization has.

Next week we’ll look at a hypothetical case in order to illustrate the process in action. As always we hope you have found this post to be informative. We want to hear from you so be sure to leave a comment below!