While some brands continue to debate the merits of social media in their marketing mix, others have made tangible strides in measuring these initiatives. Defining the roles and responsibilities of each channel within the brand marketing mix allows brand managers to decipher the social dilemma.
First, identify social media levers while understanding the drawbacks. Second, develop relevant key performance indicators (KPIs) tied to the brand’s business objectives. Next, use advanced analytics for your social campaign to explain what went right and wrong and why.
Let’s review some measurement components in the social space: reach and engagement. Reach is defined as the number of impressions, followers and fans. This top of the funnel metric is measured to address two questions: Do we maximize the brand’s audience social eyeballs? Can we compare these social to other media eyeballs?
If properly measured, the answer to the second question may reveal a prominent social media advantage: captive reach.
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