How to Set Goals and KPIs for Social Media Marketing
Find out more about goal setting and key performance indicators for social media marketing. This guide can also be easily followed by beginners and it has incorporated the orientation that involved a real simplified case study to make the tracking and measuring of your progress quite easier with the help of a simple diagram.
Dewi Griffith
7/3/20243 min read
How to Set Goals and KPIs for Social Media Marketing
Understanding Goals and KPIs
What Are Goals?
The goals you set for your campaigns on social media will help you come up with your objectives.
Common social media goals include:
Increasing brand awareness
Driving website traffic
Generating leads
Boosting sales
Improving customer engagement
What Are KPIs?
It is the bottom-line set of performance measurements used in an organisation to evaluate the achievement of targets in a given period. Milestones and KPIs serve to let know that you are moving in the correct direction. Examples of KPIs include:
Number of followers
Engagement rate (likes, comments, shares)
Click-through rate (CTR)
Conversion rate (how many people take action, like making a purchase)
To set effective goals, use the SMART criteria. SMART stands for:
Setting SMART Goals
Specific: Clear and specific goals.
Measurable: Quantifiable goals you can track.
Achievable: Realistic goals you can accomplish.
Relevant: Goals that matter to your business.
Time-bound: Goals with a deadline.
Having first opened its doors in 1998 in the vibrant suburb of Footscray, Melbourne, Anna’s Bakery has established itself as an iconic place where one can always find delicious bakeries and friendly service.
Owned by Anna, a widow, and her daughter Emma the business was greatly affected because with COVID-19 cases people moved away from the shops.
Anna and Emma, wishing to maintain a favourable position and consistently high sales of the family business, focused on the further development of the sphere of positioning the cafe for online orders and inviting people to come to the cafe.
It is important to identify that they went on and implemented a highly targeted social media marketing campaign that would aim to boost their customer base in the local area.
To give the target of raising the frequency of customer visits to stores and bakeries by at least 20% in the next three months, they started posting photos of scrumptious cakes and biscuits, the company’s history and attractive offers on social media.
This paper aims to discuss the major turning points that paved the way towards strengthening the physical accessibility of the bakery’s products in that region to get more people to come and taste the products.
A Case Study: Local Bakery’s Social Media Campaign
Diagram Example:
Here's a simple diagram showing how goals and KPIs connect:
Goal:
Increase the number of visitors by 20% in the next three months.
KPIs
Specific: Increase the number of in-store visitors.
Measurable: By 20%.
Achievable: Through targeted social media campaigns and local promotions.
Relevant: To boost sales and local presence.
Time-bound: Within the next three months.
Specific: Increase visitor by 20%.
Measurable: Review past visitor trends to determine if a 20% increase is realistic. Allocate budget for targeted social media ads and promotions.
Achievable: It’s also important to guarantee that the business has enough marketing budget and resources to support its goals and objectives.
Relevant: Orders bring in the most money for the bakery because they are the most direct way to make money.
Time-bound: It is suggested to set a six-month period within which work will be carried out.
Steps Taken:
Tracking Progress
To track the progress, use specific applications for the analytics as Google Analytics, Facebook Insights, or Instagram Analytics for instance.
When you have the data, it is critical that you keep a check and look at how you are doing and position yourself properly about your goals as required.
Example Progress Check :
Referring to the initial rates, the website visits increased by 15% in three consecutive months, and the conversion figures are at least 10% higher.
Action: Ensure that you retarget the CTA on the social media updates and use special offer icons that entice customers.
Conclusion
The easy tactics of effective social media marketing include top-down policies such as goal setting, KPIs, and control.
It assists you in getting ideas, keeping a check on your performance, and coming up with the necessary information to attain goals. It is important to check and modify goals and KPIs from time to time to comprehend whether you have chosen the correct strategies on social media.