Social networks are now an essential media for companies. You can federate a community around your brand, communicate about your products or services and retain your customers. Well-constructed, a social media strategy ensures you a better relationship with your target audience and helps you significantly increase sales.
You must analyze the behavior and expectations of your prospects and customers to set up appropriate communication actions. Then you have to regularly publish value-added content (informative, entertaining, inspiring …) and master your speaking skills. It is a strategy that must therefore be thought out on several levels: you must first think in the long term, by developing the universe of the brand to create commitment, increase your notoriety and increase your audience. The published content will participate, they must also have an impact on your sales in the short and medium term.
To precisely measure the results of your action plan, then optimize it, if necessary, you need to follow the right KPIs (Key Performance Indicators or, in French, “key performance indicators”).
Social networks: the importance of performance monitoring
Each social network has its own codes and attracts users with a specific profile. For example, Instagram targets an audience of young adults who expect to be inspired while LinkedIn is for professionals who want to exchange useful information. We can also cite TikTok or Snapchat which are the favorite platforms for teenagers looking for creative and entertaining content.
Just as you analyze the performance of your website, you must measure the performance of your digital strategy on social networks through KPIs. You will know if it is effective or not. It also helps you understand your users and their expectations. You adapt your communications to better respond to them and your Social Ads campaigns become more effective. Your analysis needs to be thorough to really measure the effects of your actions and determine which types of formats and posts convert the best.
Choose the most relevant KPIs
Social media gives you a lot of KPIs to track, but you don’t need to monitor them all. On the contrary, you must select them carefully according to your objectives: improve your brand awareness, generate leads, increase traffic to your website, increase sales …
Whatever your goal, you must detail it precisely. For example, if you are a company specializing in the manufacture of windows and you want to increase sales: you must specify how many items you want to sell and within what time frame. You will then be able to follow its evolution as closely as possible and know whether or not you have reached it by the set date. The more precise your expectations, the more you have a clear vision of the KPIs that you will have to follow to measure the effect of your social media campaigns on your sales.
The first social media indicators to watch closely are obviously those related to conversion:
- Number of clicks on the product label you inserted in your posts.
- Number of intra-platform purchases (only if you have access to and use the Facebook Shop functionality).
- Number of clicks on products labeled in your stories on different platforms.
- Number of clicks on the “Buy” button.
Your social networks generate traffic on your website: these visits can end in sales. You will therefore need to take into account certain key indicators on your site to know to what extent your social media strategy has influenced your turnover. For example: the conversion rate, social sessions (number of visits to your site from social media) or on-site traffic (traffic generated on your site during a determined period). Another interesting KPI is the number of new visitors: by analyzing their origin, you will know if your social networks have made it possible to bring new prospects to your website.
The aforementioned indicators are essential to measure the impact of your actions on the number of sales of your website. Other KPIs, indirectly related to sales, will also provide you with valuable information. For example, the ability of your content to engage your audience will also have a beneficial effect on your sales. It is therefore in your interest to follow the evolution of the number of fans, the number of views, likes, comments and shares on your posts to determine whether or not they appeal to your prospects and customers. You can then cross-reference this data with the number of conversions you actually got to determine the effectiveness of your strategy.
The ideal is to be able to cross a large amount of data from different platforms, such as your CRM, Google Analytics, Facebook Analytics … To find the solution best suited to your needs and effectively measure your data, it is recommended to do call on an expert in web analysis with a solid knowledge of social media.