Going Socials: Which KPI You Should Prioritize? Branding or Sales?
The social media hype for brands across the globe is real. Everyone’s jumping right into this seemingly unsinkable boat of social media and everyone’s like, let’s do this, this is the trend these days. However, before jumping into the boat of social you need to know these two things:
Is it for you?
The big question is, is social media fit for your business? Not all business is created with the same audience behavior? Some business especially B2B businesses have a highly ‘niche’ audience with a very discrimination taste for content. They respond differently and unpredictably at times. Lucky for the B2Cs as some groups of end-consumers behave in a predictive pattern. But with a high-end audience, social media isn’t always the Mecca of Digital Marketing. The key here is to determine if it is really fitting to your corporate goals.
Related Reading: Online Duopoly: Facebook or Google?
How to Measure Success?
Now that your team has decided that social media can be an important channel to your digital growth, the next crucial step is not the content planning yet. Determining your KPI should be the next thing that your team needs to finalize. Without concrete goals and sets of Key Performing Indices, you cannot measure your initiative’s success. And if you’re battling the two sides of the coin whether to go for branding or with sales KPI, you really need to a have a perfect focus to ensure success when rolling out to social media. These two are different in some degree.
If your team is still confused about which KPI to use, you can refer to some considerations mentioned below.
- Are you a start-up?
If social media happens to be your first digital initiative the most logical approach is branding over sales. You need to build a good brand awareness and brand recall before you make sales pitching over social media. No one wants to hear selling from a brand or a business that they barely know. And if we are talking about branding, building A FAN-BASE, CONTENT REACH and ENGAGEMENT are the best KPIs to go with.
Related Reading: SMEs Guide to understanding their online market
- Are you in dire need of lead acquisitions?
Some businesses live and breathe through leads. Well for most B2Bs – YES, this is the business’s bloodline. And leads, when well-nurtured becomes sales. This middle-ground is a little aggressive than branding but should be lesser than sales-driven methods. One must have a landing page inside a corporate website which will catch all of the referred traffic from social media. The landing page should be designed to be enticing enough to take an action either in the form of sign-ups of inquiries. The best KPIs for these is LINK CLIKS or WEB CLICKS.
- Is your company already visible online?
If your company or your brand has been making buzz online, either on the search engines, display networks or in other channels like guest posting via blogs, turning to social media could be easier than the previous two.
For most companies who have established a good brand recall and reputation online, going for sales goals on social media is likely to happen.
Call-to-actions such as Buy Now, Book Now, Call Now, are the usual go-to CTAs by businesses. And KPI of CLICKS can be used to measure this.
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After finalizing your sets of KPIs, you can now proceed to the drawing board to kick start with your content planning.
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