To ensure a sustainable business growth, these 3 things among several others are mandatory.
1.Decide Your Key Relevant Metrics
Your relevant metrics can be a bit tricky as they differ across businesses. What this means is that what you need to track is quite different from what I need to track.
From my experience, I have seen so many businesses creating a social presence without really understanding and establishing if they are successful or not because they have not decided their key relevant metrics or Key performance indicators (KPI)
Another thing to note is that the kind of business you run will determine the social media platform to harness.While B2B works well on Linkedin, B2C will always thrive on IG, Facebook, Pinterest amongst others.
Your key relevant metrics must be tied to the SM platform used and this must relate to your already set out goals or objectives.
2. Track your business profitability
You may be shocked that despite sales being made, you may not be making profit.
3.Have your AAR sessions at regular intervals to track your results and re-strategize
Fact is no matter how much you plan or how much efforts you put into growing your business, things may not just work out as planned.This is the sole reason you must track your results to ascertain the success of your marketing and sales.
So how to do you know what metrics to track ?
While number of followers may seem like a quick result, it isn’t as your sales is not tied to the number of followers you have.I will give just 2 examples to drive this home.
i)If your goals are sales focused, you may want to take note of the number of clicks you have.
ii)If yours is for increased brand awareness, then your post reach and visits to profile especially when running an ad is key to note.
So you begin the process by setting your goals, determining your most relevant metrics and then you must track by keeping a constant eye to see how your metrics are progressing and if your marketing campaigns are giving the required results.
