Social media marketing is something that many businesses are taking part in and it provides a wide audience. According to Ross and Gorman (2015), due to social media being a fairly new platform, some companies have found it quite difficult to ascertain quantitatively how marketing on social media has impacted them. Social media marketing can be measured in various ways, according to what one wishes to achieve. The use of a goal-driven metric can be helpful; for instance, if a company wishes to market their product on social media in order to increase sales they can use the conversion rate of visitors on the page compared to the buyers. Certain indicators can also be used a tool of measurement, some of these include; the number of likes, page visits, shares and comments. These indicators will help a company know whether or not their marketing strategy is making traction and the numbers can be quantified and related to revenue. Once these measurements are collected; an analysis should be done to give a company a better picture of how they are performing. They will then communicate to the responsible people whether or not their marketing strategy is okay or not, which should prompt change.
A digital marketing strategy involves a plan to use media, content and platforms through the internet in order to assist in the achievement of a company’s objectives. According to Maryville University (N.D), email marketing is one of the strategies that can be employed under digital marketing. Once a potential or existing customer fills out a form showing willingness to receive updates and newsletters this opens an opportunity for the company. The company will now be able to communicate directly with the client and can share any new social media campaigns, new products and services. This strategy can be measured by the number of delivered emails, the number of bounced emails, the number of opened emails and more. Paid advertisements is also a good digital marketing strategy, it involves posting ads on various digital platforms. The measurement of this strategy is done through impressions, click-through rate and click rate. These are metrics that can be used to assess and measure how many people are viewing or interested in the advert placed.
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References
Ross, B. & Gorman, S. (2015). Measuring the Impact of Social Media on Your Business . https://cmosurvey.org/measuring-the-impact-of-social-media-on-your-business/
Maryville University. (N.D). Digital Marketing Strategy: Key Components & Tips to Get Started . https://online.maryville.edu/blog/digital-marketing-strategy-components-tips/#what-is
