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5 Tips for Setting Measurable Social Media Goals
Social media participation has become a must for businesses today. A survey by CMO in February 2012 revealed that marketers expect to spend almost 20% of their total budgets on social media in the next five years. However, determining return on investment (ROI) from social media initiatives is still a challenge. In 2011 Adobe surveyed 750 marketing professionals on their use of social media. Of those, 73% said they used social media in campaigns during that year, but only 15% said they intended to do so in 2012. Their biggest frustration was determining a true ROI.
With all this focus on spending, setting measurable goals and executing on them becomes a vital part of a marketing organization’s function. Today’s monitoring and analytics tools make it possible to demonstrate success through social channels.
Defining success in social media participation begins with appropriate goal-setting, backed by benchmarking, tracking, analysis and reporting. However, not all results generated through social media can or should be measured in monetary terms. Improvements to qualitative metrics such as awareness, reach and sentiment are equally valid outcomes. Every organization must determine the applicable metrics that move it closer to realizing its goals.
We’ve pulled together five practical tips we hope will guide you in creating and executing on measurable, actionable and meaningful social media goals that define success in your own organization.