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Beyond “Like” and “Follow” – Measuring Success on Social Media

September 28, 2012

Social Media has lowered the barriers for small and local businesses to enter the world of digital communication and engage with consumers in real-time regardless of physical distance. Popular platforms such as Facebook and Twitter promise a low-cost and supposedly effective means for companies, especially those running on tight marketing budgets, to reach out to a broad audience. Small businesses everywhere are embarking on this otherwise too-good-to-be-true trend in brand-customer interactions.

However, social media success is still a myth to both marketers and service providers. While Facebook have been struggling to roll out an ads placement strategy with enough ROI to calm investors after the disappointing post-earning calls, marketers are finding “Likes” less appealing as an indicator of social media success. Twitter is following suit with a new interest-based strategy, in a series of efforts to boost its “still nascent advertising sales.”

The question remains – How to measure success on social media? This article by Patrick Murphy on Business2Community provides some practical indicators beyond “Likes” and “Follows” to help refine social media strategy. The four metrics suggested by Patrick Murphy include Engagement, Share, Sentiments and Referrals – all aiming at a more meaningful and long-term relationship with customers. Simple as they may sound, these metrics lie at the core of sustainable branding strategy using social media.

However, there is no one-size-fit-all solution to this question and that is why SCORE is here to help. Come to us with any questions or concerns relating to your business and marketing strategy. Our volunteers/business veterans are happy to help you create a strategy that caters to your unique needs.

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