How To Analyse Social Media Campaign Performance
2-minute read
Optimising your social media campaigns starts with analysis. To understand what type of content your audience wants to see, it’s important to evaluate how your campaigns are performing.
Identify the business goal and campaign objective
Before evaluating a campaign’s performance, it’s important to first recognise the business goal it was supporting. What did you set out to achieve when this campaign was created? Then, using the business goal, establish what your campaign goal was – the measurable metrics of the campaign. For example, if your business goal was to get more website traffic, your campaign goal may have been landing page views.
Measure the results
Once a goal has been recognised, it’s time to measure the results. In the case of the example above, you would need to measure how many landing page views are being generated from a campaign. Metrics can be measured on the social media platforms themselves or using external tools.
Firstly, look at the results. Is the campaign generating a lot of conversions? High conversions are always a good first indicator, however it’s not the only indicator of a campaign’s performance. The second metric to look at is cost per result (CPR). If your campaign is optimised as best as it can be, then the CPR will be low. A low CPR means your ad is showing to the correct audience and the copy is engaging. If the CPR is high, it’s worth considering tweaking the ad copy, imagery, or audience.
Firstly, look at the results. Is the campaign generating a lot of conversions? High conversions are always a good first indicator, however it’s not the only indicator of a campaign’s performance. The second metric to look at is cost per result (CPR). If your campaign is optimised as best as it can be, then the CPR will be low. A low CPR means your ad is showing to the correct audience and the copy is engaging. If the CPR is high, it’s worth considering tweaking the ad copy, imagery, or audience.
Monitoring and reporting
Regularly monitoring your campaign results is also important to keep your business on track. Through regular reporting, you can track your campaign performance over time. Comparing results on a weekly, fortnightly, or monthly basis is a great way to observe the growth or decline of a campaign. Campaign results may grow over time with regular tweaking, or they may decline due to ad fatigue. Monitoring results through reporting is the best way to stay on top of your campaigns and ensure consistently good results.
Optimise, optimise, optimise
Adjusting your campaigns is an important step in campaign analysis. There’s no value in analysing and reporting on campaigns if no action is taken from the results. If a campaign is performing well, it’s a great indicator of what needs to be done to develop additional successful campaigns. However, campaigns are rarely perfect from the start, usually they require some adjustments. A/B testing is a method used to refine campaigns and uncover any flaws. A/B testing involves creating ads that are almost identical except for one variable. Instances include, using the same ad copy but testing it against two different images, or using the same image with two sets of copy. In doing this, further conclusions can be made on an ad’s performance. your campaigns and ensure consistently good results.
In today’s digital world, social media is a must-have for all types of businesses. Whether you’re completely new to social media, or looking to enhance and grow your current activities, the Content Republic team are here to help.
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