How to Measure The Effectiveness of Social Media Strategies

To say the least, there is a lot of hype that has been generated when it comes to using social media to promote a business. A lot of companies have sprung up and are doing great work in this area which is a relatively new field.

Yet there’s no questioning the reach of social media as it is considered to be one of the best ways on can keep their customers engaged. Almost every CEO who is considered to be savvy in matters of what works in the market seem convinced that this is one of the best ways by which you can reach out to both new and old customers, there are others who keep asking this question: How will social media make me money?

Since these strategies are more directed towards creating awareness, it can be difficult to ascertain the financial implications that this will have on a company’s profitability, and so, here are a few tips that might help you measure the effectiveness of your social media campaign:

#1: Check for growth before and after the launch of a social media strategy, and statistics will reveal a lot more than you can see.

#2: Look for an increase in the number of transactions as well as an increase in Sales revenue

#3: How many new customers you are reaching every month, and how often are old customers using your service. Also look for how much they are spending as well per transaction.

#4: Look for positive and negative comments about the center.

#5: Check to see if you are building relationships with your customers using social media.