Social Media Stats a CEO Should Know
Nov 13th, 2013|
This post stared out as a request from my VP: “I want to know what kind of metrics I should be looking at in our social media marketing.”
I took it upon myself to hit up some friends in the business, and take Poe the Gnome out to Cafe Kubal to meet some of them. While we were there Poe was recognized by a bunch of people, proving our own social media campaign (pat myself on the back) was working.
Social Media Metrics a CEO Should Know
Everybody wants a million fans. Appearance is reality, as they say. I know the restaurant down the street has like 10,000 fans, meaning, there must be something good about it. That and whenever their social media marketers post anything, at least 1,000 (10%) of their fans are always going to see it. Now that’s nice.
It matters a lot less if I have 10,000 fans and 95% of them are people in other parts of the world who “liked” my page as part of a “click here for free likes” scheme; rather than having 10,000 “organically grown” or obtained fans from my demographic area around my – let’s keep this example going – local restaurant. What do they care about my Saturday evening special? Their friends won’t be able to care about it either (except on the off-chance they flew to Syracuse this weekend).
Quality fans are those that:
- Are within your demographic (location, age, gender, interests, etc.).
- Are actively engaged in what you post.
The first should influence the second point: meaning I post what my demographic likes. You can compare what gets attention and what doesn’t. Then modify your strategy. It’s that simple.
We started talking about this. What if my 10,000 fans never like or share anything I post? There are two possibilities: either everything I post s[tin]ks and is outside their interest, or all of my fans s[tin]k (or a combination of both).
Ideally, your social media content should be engaging people. Hint, hint: photos are the most engaging content online. Not video. Why? Because it’s an immediate medium: no buffer time, no time – just see it and go. I don’t have to read anything. It moves me, entertains, inspires, and might even sell me something. Emotional posts are second to bat. I mean, think about it: what do you care more about: that “The GDP of New Zealand just rose 13%” or “Breast cancer survival rates having increased 35% over the last 4 years” (both made up figures but still) – the point is pretty obvious.
Don’t forget your fans’ friends will see your stuff when they engage with it. Make your posts “I’d like this if I saw my friend like it-able.”
Remember, don’t knock the fact that your Mom, sister, ex-wife, and step-brother’s mom’s knitting club all like your page. They will probably be your biggest fans and generate some buzz. And social media buzz is contagious. And that’s what you need to get people psyched about buying your ----.
It’s not the icing on the cake, it’s the heart of the matter. Every business is selling something. If you’re on social media – at the end of the day – that’s precisely why you’re there. You should have a website also (and if you don’t, click here), and your website should have a “conversion form” of some sort. If you sell things on your website (shoes, sleds, spanakopita, what have you) well – it’s easy. Plug in Google Analytics and it will tell you how many sales originated from people going to your Facebook page. If you do marketing, like, say, Cowley Associates – you look for people filing out the “Contact Us” form for more info on how they can purchase our services (also trackable via GA).
Conversions are the end-all, be-all of any online marketing. I mean, when was the last time you met a business that stayed in business by doing everything for free? (Obviously dumb statement. Moving on.)
Types of Posts
We talked a little bit about this above, but it’s important just to know what types of posts are generating the most buzz for your biz.
According to SocialBakers.com, 93% of the most engaging posts on Facebook are photos! That’s a huge stat! 3% are status updates, 2% are links, 2% videos. Does that tell you anything?
Look at what types on your feed (and what type of the types) do well, and incorporate more of those into your strategy. It’s simple “social media economics,” to coin a phrase. (I should really patent that. Totally not goanna do it though.)
Interactions and Unique Users
Hey guess what – social media is social! Who knew? So why is it okay just to have a thousand fans and not engage anybody? Hint: it’s not.
How many unique users are interacting with your brand? “Ay, there’s the rub.”
The long and short of this point is: you should be engaging your fans. If not, go back to the stats on what works (aforementioned) and adjust your s[tuff]. It’s important. Why is it important? Because otherwise you’re a store with nobody in it; you’re on a podium in the middle of a football stadium and no one is listening; you’re a tree falling in the woods and guess how many people are there with you?
Not only do you want to keep tabs on numbers and engagement levels and bla, bla, bla, bla, BLAH – you want to measure the leads you are generating against the quotas set on what your company can handle – believe it or not.
This is not a problem for 99% of the biz world but a valid example of this would be something like: “Hey our Mom ‘n’ Pop ice cream shop is doing so well thanks to our popular Facebook page that we can’t handle more crowds; let’s open up another shop on the other side of the city…” etc.
Gosh, I wish we all had that problem.
“A Little More Conversation…”
“What we have here is a failure to communicate.” - name that awesome classic movie (in the comments below) I love it!
Again, social media is social. Posting stuff should generate organic conversation. Wish you were those SMM’s that get 145.34k comments and 346.1k likes per photo? Well, you’re probably not inciting a conversation in the first place.
Here are two examples, and then I’ll end this point, and I won’t even tell you which one is better. You pick.
Post #1: “Read this post: ‘Veteran’s Day” by Joe Schmo…”
Post #2: “Who is your favorite veteran and why? Joe Schmo writes about his…”
Use the software available to come up with metrics on each of these statistics. Keeping your team informed: both higher ups and troops – help motivate and excite people. “We just reached 900 Pinterest followers!” – etc. A little cheerleading goes a long way. You can quote me on that.
Quality! Engagement. That’s the name of the game. Because at the end of the day, what really matters is if you are getting business as a business or action as an organization.
Am I right, or am I right? (That’s what I thought.)