How Numbers Can Help Your Social Media Strategy

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on April 26th, 2010 by Team Pi

Most marketing strategies include planning its financial aspect. Your social media marketing strategy is no different.  You can use your social media marketing strategy to increase your revenue. You can make the numbers work for your social media marketing plan in a few simple steps.

You must first figure out the goals of your social media marketing strategy, to ensure that they are measured properly. These could be planning brand awareness, improving consumer service or other features. You can use a graph or diagram to explain how your social marketing strategy will help achieve your goals that you had set earlier. You must link the correct tools to the goals you had set earlier. You must measure what matters most to the goals set. For example, if your goal is to build brand awareness, then analyzing sentimental ratio and tracking mentions of your brand is required. You must set values to measure your success rate, and these figures should grow with time. You can approximately measure your revenue growth by creating a correlational ratio between revenue growth and the social media’s impact on it. Over time, the true ratio will emerge as you collect more information.  It is important to remember that the projected numbers are assumed and the actual numbers may be different.

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