Today we’d like to delve into the wonderful world of social media metrics and talk about how necessary it is to monitor and control promotions to assess your results. This will let you know if you are on the right track and help you to improve and perfect your whole strategy.
Today we’re focusing on Facebook and looking into which KPIs you should use to assess whether your promotions are appropriate to your objectives. Later on, we’ll try some of the most interesting metrics for other social networks from which sweepstakes and contests can be run.
The key KPIs for your Facebook contests and sweepstakes
- Number of participants. The first thing to look at is the number of participants you’ve had in your sweepstakes or contest. This figure will give you some clues. Especially if you compare it with your previous promotions or with similar contests run by other brands or competitors. The number of participants should be in line with the size of your community and with the segment you’re aiming your contest at. In other words, if you have a large Facebook community, your promotion will probably achieve high rates of participation, but you should also keep in mind what your promotion was designed to do. Perhaps your target audience is of a particular age for example, or perhaps it lives in a specific area (near an offline event). These factors will determine the number of people likely to participate in the promotion.
- New fans gained each day that the campaign is active. Analyze the number of new fans you obtain each day of the campaign and compare this figure with previous campaigns. Keep in mind factors such as seasonality, other publications that you launch each day, and how you are supporting your promotion from other social networks, websites, etc.
- Total number of fans gained during the campaign.
- Reach achieved by the publication. By this stage you’ll have understood that your posts don’t reach all your followers. The more users interact with your post, the greater the reach it will have, so it’s a good sign when this figure increases.
- Number of shares. As with the previous point, the higher the number of shares the more popular a promotion has proved to be. How much expectation has your promotion created? The number of shares generated by your promotion post indicates how many users have considered the campaign interesting enough to share it with contacts and invite them to participate.
- Number of Likes. This KPI is even more unequivocal. If your community receives the promotion with open arms, this will be reflected in the number of likes obtained. It’s an excellent statistic for assessing how successful a promotion has been.
- Comments on the post and positive reactions. You should value both positive comments and negative ones. Obviously, it’s always encouraging to get positive feedback, but negative comments can help you see what you might have done wrong and how you can improve.
- Number of clicks on your promotion link. It’s a good idea to use URL shorteners that enable you to measure clicks and see how many were converted into conversions. Use UTM to carry out monitoring from Google Analytics for example.
- Return on Investment (ROI). How much money have you spent promoting the contest, design, prize, and so on? And what has been the true rate of conversion and return generated?
So, by now it’s all crystal clear, right? When it comes to Digital Marketing… monitor and measure and you will prevail! All our promotions provide tools for measuring results and statistics, facilitating your work and helping you achieve your KPIs. Set your KPIs and create your promotion now!