Setting and Tracking Goals with Social Media Metrics

To make your social media metrics really soar for your company, you need to practice the fine art of goal setting. To get the full effect of a campaign, the campaign has to have a measurable goal. More than that, the campaign needs to have an incremental series of actionable items you can track.

Say, for example, that you want to book 5 percent more seats in your restaurant this month. You want to do this increase through your website because you just launched a new online reservation service.

You have two goals here:

  • Raise awareness of the new site feature

  • Make 5 percent more bookings

To make your metrics comprehensive and be able to track the goal as far across the web as you can, follow these steps:

  1. On your website, create a landing page designed to support both goals.

    Make sure that the page has great copy and images that tell the story of the new feature and how it will help customers.

  2. Populate your landing page with two calls-to-action.

    One call-to-action encourages folks to share this new website feature with their friends. The other one encourages them to try out the feature by booking a seat.

  3. Track the call-to-action for bookings.

    This step is easy. If they book a table, you have solid real-world ROI in your wallet to show you it was successful.

  4. Inside your analytics program, set up goals using the shortened link as well as the landing page.

    It may take a few days before you start getting useful numbers.

  5. Name your goal.

    Make the name something you'll remember. You'd be surprised how easy it is to name your goal something forgettable!

  6. Define a funnel.

    Google Analytics gives you up to ten pages to define a funnel. This step helps you see where folks may drop out of the process.

  7. Assign the goal a monetary value.

    For the booking goal, choose the revenue you expect to get from a typical reservation for two, such as $40. For the sharing goal, choose a percentage of that. In other words, if you expect 1 percent of shares to book a seat, choose $.40)

  8. Fill out the goal details.

  9. Save your goal and start tracking your campaign.

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If you link your AdWords account and your Analytics account, you can see how any of the ads that relate to this goal and that use the short link or referrer tags are performing. This metric allows you to adjust the ads for optimum performance every couple of days.

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