While you can track a lot of metrics on the social media sites and with some third party tools, what you will need to track in order to know how effective the social media has been, at providing your business with some sales and revenue are as follows.
You will need to track all of these by using your own ad tracking system/software on your site, and in your business, together with the analytics tools that are provided on some of the social media sites, that you may be using with your business, or with some third party analytics tools:
- The social media sites that you are using with your business (Facebook, Twitter, Pinterest, LinkedIn etc)
- The profiles, pages, groups, social media platform call buttons, social media on-platform shops, paid promotions and social media influencers/users that are providing your business with some traffic/visitors, leads, subscribers and customers
- The content, ads, offers, content types, ad types and offers types, that you are using on the social media, that are providing your business with some traffic/visitors, leads, subscribers and customers
- The amount of sales, customers, subscribers, visitors and leads, that you are getting through the social media, and each of your chosen social media site now and within some specific periods of time
- Your top profits and revenues from each of your chosen social media sites
- Your top sales, customers, subscribers, visitors and leads from each of your chosen social media sites
- Your top posts on each of your chosen social media sites
- Your top content on each of your chosen social media sites
- Your top content types on each of your chosen social media sites
- Your top ads and ad types on each of your chosen social media sites
- Your top offers and offer types on each of your chosen social media sites
You should in essence be able to provide some answers to the following about the social media, in your business:
- Am I making money through the social media organically (that is, naturally), or through paid promotions, social media influencers or other social media users?
- Which social media site is making me some money and which ones are not?
- Is it my social media profiles, pages, groups, shops, call buttons or apps that is making me some money?
- Is it my content, ads or offers that is making me some money?
- Is it texts, videos, images or infographics that is making me some money?
- Is it informational content, questions/answers, news or industry trends content that is making me some money?
- Am I making money through the web or from mobile platforms or both, through the social media?
- Am I making money online or offline or both, through the social media?
You should be able to determine the amount of revenue and profits, that you are making through each one of these, at any given period of time in your business.
Doing all these, will let you know where to promote your content, ads and offers next, what to continue to use, what to stop using, where you are likely to get the best results next, the type of content, ads and offers to use next etc in your business on the social media.
It will also help you to know what to resolve, and how to determine where you may be having some issues, with your social media sales and profits.
You can and should create other reports in addition to all of the above, on your social media promotions/marketing, in your business.
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