1. Build brand awareness
When you build brand awareness on social media you are building an understanding of your products and services. Measure this by the number of people knows your brand exists and what products and service you offer.
2. Manage brand reputation
The measurement of brand reputation can mean different things to different businesses. For small businesses, it could mean how popular they are or how many 5 star reviews they have.
For larger companies that are business to business, it might be their market share or their ability to provoke thought in their industry.
3. Build an engaged community
A community is an asset to have in a business and if that community is engaged it means a huge potential. When that ready audience is anticipating your next post, your next product launch it ensures future or regular sales.
4. Increase conversions
Conversions and Sales might not be the same thing, but by measuring different steps along your social media sales funnel you are helping to predict future sales or when potential clients are dropping out of your funnel. Every conversion has real, measurable value for your business even if there is no price attached to it.
5. Gain market insights
Social media is a powerful market research tool. Rather than tracking key social media metrics, for this goal, you can use internal milestones, like building out your brand voice.
6. Identify and nurture leads
Sales do not happen immediately on social media, identifying and developing leads has to be part of your social media sales funnel. Tracking conversions along your funnel is a critical metric in generating leads.
7. Deliver customer service
Social channels are an increasingly important platform for communicating customer service and support speedily and effectively.
8. Attract job applicants
The employment of suitable employees when a small business is growing is also a key form of conversion. Set out key recruitment goals for your social media strategy and track these metrics.
9. Identify crises and manage communications
Responding to a crisis on social media is key for maintaining a high brand reputation. Develop a strategy with objective steps in social media policy, securing platform account(s) and a communication policy along with goal 2.
Bonus: Always Keep Learning.
Always keep researching and learning about social media as platforms change rapidly.