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In last month’s Learn and Earn survey, we asked people to tell us how they were using social media in their practice marketing. This month, we’re asking them to tell us how they analyze their social media performance, how they interpret the data they look at, and how effective they feel their social media efforts are. The results are in! Here’s what we found.
Which metrics do you measure to track your social media performance?
When it comes to metrics, one stood out in particular: engagement rate. Typically, engagement rate is defined as the number of likes, comments, shares, and other metrics that indicate how actively involved a social audience is. This is arguably the easiest metric to keep track of, so it’s not surprising that this was first given the number of respondents who indicated that social media is a bit of a time suck for their practice (more on that in a second).
Where do you track your social media metrics?
Most respondents indicated they either use the reporting built into the social media platforms they’re using or spreadsheets such as Excel or Google Sheets to track their social media metrics. A surprising 30% of respondents aren’t tracking their metrics anywhere, meanwhile only 6% are utilizing a social management platform like Social Power to keep track of their social performance.
How often do you analyze your social media performance?
The most common response to this question was that respondents only analyze their social media performance when they have time, with nearly the same percentage answering monthly or weekly. This suggests that finding the time for social media is a struggle for most practices.
What’s the most challenging part of managing social media?
The most common challenge related to social media was lack of time and resources. Difficulty developing a solid social strategy and challenges related to posting frequently were also cited. These answers echo common themes we have heard in our Learn and Earn surveys, with time, resources, and knowledge frequently cited as barriers to success in many marketing strategies.
Do you feel social media marketing is effective?
When asked if they feel social media is a successful marketing strategy, 57% of our respondents answered yes. Of the other respondents, 25% felt social media wasn’t effective, and 18% weren’t sure enough to answer one way or another. This answer tells us that despite the challenges practices are facing with social media, they still feel it’s still largely a worthwhile use of their limited time and resources to pursue.
What are the reasons people find social media effective or ineffective?
We then asked our respondents to tell us why they felt social media was or was not effective. The answers varied, with the most commonly cited reason having to do with social media expanding the reach of their practice. One respondent wrote “social media keeps me visible and top of mind for potential new clients.” Generational differences were noted a few times as well, with one practice answering “social media is becoming more popular, especially with younger generations.”
Practices who found social media ineffective had varying reasons as to why, but targeting the wrong audiences and low conversion rates were cited frequently. The few respondents who said they were unsure why their social media wasn’t working either couldn’t identify the reason, or indicated that they had just started with social media and weren’t sure how it was going to go.
We Can Help
Need help managing and analyzing your social media? MyAdvice can help. Our team of experts has the tools to save you time and the knowledge to save you guesswork. Contact one of our digital marketing specialists to set up your complimentary GROW consultation today.
