Why You Need a Social Media Measurement Plan and How to Create One.

After years of increases, social media spending declined in 2019.

The CMO Survey saw a drop in social media spending to 11% of marketing budgets from a high of 14% in 2018. Why? The authors suggest, “… despite massive financial investments, social media is rated as contributing only moderate value to company performance (3.3 on a scale where 7=very highly and 1=not at all).”

If you’re not confident in social media’s return on investment (ROI), it will only get harder to secure funding for social media budgets. How can you improve this confidence? Ensure you have a strong measurement plan in place to better prove social media’s impact on the bottom line.Social Media Strategy Measurement Plan for Marketing Advertising and PRStart with business objectives not social tactics.

In creating a social media strategy it is easy to start with social media tactics. You ask questions like, “How can we improve our Facebook page?” So you develop strategies to improve engagement on Facebook and you increase likes, shares and comments. Yet having a better Facebook page is not a business objective. That is why it gets hard when management asks how Facebook Likes contribute to the bottom line.

Having a measurement plan ensures you start with your business objectives (what impacts the bottom line) first. From there you create strategies and tactics (current and new) to help get to those objectives. Then you determine how those outcomes will be measured through KPIs (metrics) tied to micro- and macro- conversions. Goals are long term changes you would like to see. Objectives make goals measurable on a shorter time frame. Strategies are the ways you will meet objectives. Tactics are what you will use to implement the strategies. Click To Tweet

How to define business objectives.

The objective of most business’s is to increase sales, but each organization’s situation is unique and requires a much more nuanced definition. Insight can come from a situation analysis or the reason you are creating a new strategy. There is often a problem or opportunity that has become the focus of marketing efforts creating the story of your plan. The CMO Survey reports marketer’s see social media as a tool to help accomplish the following business objectives:

  1. Brand awareness/brand building
  2. Introducing new products/services
  3. Acquiring new customers (conversion/sale)
  4. Brand promotions (contest/coupons)
  5. Retaining current customers
  6. Improving customer service
  7. Improving employee engagement
  8. Marketing research
  9. Identifying new customer groups
  10. Identifying new product/service opportunities
  11. Improving current products/services

Identify strategies to meet business objectives.

Most social media plans have multiple strategies or ways to improve brand efforts and help to meet business objectives. List all your strategies such as an influencer marketing campaign, a special promotion, an employee advocacy effort or branding social media ads.

Identify tactics used to support key strategies.

List the main tactics that support each strategy. For example, a business objective to increase sales to a new market may have a brand awareness strategy supported by a tactic of targeted Facebook ads, a tactic of influencer marketing on Instagram, and a tactic of employee advocacy on LinkedIn.

List measurable conversions by tactic and strategy.

List measurable actions users take to fulfill your business objectives. They can take the form of macro-conversions and micro-conversions. Macro-conversions are the key actions closest to business objectives such as an online sale through website data or an offline sale through CRM or POS data. Micro-conversions are the smaller actions that move a prospect closer such as visiting webpages, signing up for a newsletter, down loading an app, or following a social media page. They can be tracked using various tools such as Google Analytics Tracking ID and Facebook Pixel for ads or organic posts.

Connect macro-conversions to business objectives.

Link social media metric KPIs by tactic and strategy to macro- and micro-conversions. Creating a dashboard of the KPIs for macro-conversions by tactic and strategy can be a top line report of social media’s contribution to company performance. Creating this in your digital measurement platform such as Google Analytics, Hootsuite, HubSpot, Salesforce, or Facebook Ads Manager gives you real time access or the ability to schedule regular reports to share with management.

Measure micro-conversions to map the customer journey.

Identifying and measuring micro-conversions on the way to macro-conversion can map out customer journeys. Micro-conversions help you understand human behavior giving insight to optimize strategies and tactics. Analyze metrics by tactic KPI to determine how many people are completing the customer journey and where you are losing or retaining people. This does not mean you will map one journey for all or even most customers. Google click stream data of thousands of customers found no two journeys were alike – varying from 1-176 days and 65-600 touchpoints across categories, brands and products. The marketing funnel still applies, but consumers have more control and options in moving themselves from awareness and consideration to conversion, loyalty and advocacy. Today it is more like a marketing scatter plot. The best you can do is optimize the touchpoint clusters around funnel stages and use CRM data for personalized content.

Conduct experiments to optimize strategies and tactics.

Having a good measurement plan that includes both micro- and macro-conversions enables you to know which tactics and strategies are contributing the most to company performance. From there you can experiment with different tactics and strategies replacing low performing ones to optimize social media. The results of a social media audit can help identify which strategies and tactics to experiment with first. While no two customer journeys are alike your micro-conversion and macro-conversion data can identify clusters of touchpoints versus outliers. Focus optimization efforts where many of your customers engage in the funnel stages on their  unique journey. Also deliver custom messages through unique customer tracking such as Google Analytics User-ID. Ultimately you want lower your cost per result or conversion.

The benefits of social media measurement plan.

Going through this process can take considerable time and effort. But once you have the plan in place the benefits are numerous. A social media measurement plan:

  1. Collects the right data to answer company performance questions.
  2. Creates reports or dashboards to share with decision makers.
  3. Allows analysis of segments of your social media plan.
  4. Enables testing different solutions to improve social efforts.
  5. Helps lower your costs per result or conversion.

Do you have a social media measurement plan? What else could help improve marketer confidence in social media’s contribution to company performance?

Does Your Social Media Plan Tell A Story?

A social media plan is a strategy document but also a selling document that usually takes the form of a written report and a presentation. One of the most effective forms of written and oral communication is story. Before a social media plan can help a brand sell, it has to be sold.

Below is an outline of the main parts of a social media strategy placed on a dramatic arc to ensure you are telling a compelling story to your client or boss. Take them on a journey of discovery of how your solution will help them overcome a problem or take advantage of an opportunity. Make their brand the hero against competitors to meet real business objectives. Show them the path from where they are to where they want to be.

Social Media Plan Outline Template Strategy Story and StorytellingAct 1 Introduction/Exposition: This is where you introduce the background of the brand, their history and mission. The client or your boss obviously knows this, but you are letting them know you know and making sure you are all starting from the same setting such as, “Open on a hundred year old company founded on the values of …”

Additional context comes in explaining the industry including latest trends and main competitors. Identifying the main competitor establishes the antagonist. Most businesses have someone they are trying to catch up to or keep from catching them.

Complete the exposition of the story by describing who the brand is trying to reach. A well-defined target audience is a key to success. Even the biggest brands with the largest budgets don’t have the budget to reach everyone and messages to everyone motivates no one. Understanding the perspective and motivations of the target is important as most clients are not themselves in the target market.

Act 2 Rising Action/Conflict: This is where you spell out the conflict of the story. There is usually an inciting situation – the reason they need a new strategy. Often the incitement is something getting in the way of business objectives or something that can help the brand reach those objectives.

Clearly identifying the problem or opportunity ensures that you and the client are working towards the same end goal. Making this a specific, measurable, attainable, realistic and time bound business objective ensures from the beginning that your plan will be able to be measured for success against what the client cares about most. Don’t confuse this with strategies or tactics. Goals are long term changes you’d like to see, objectives turn goals into measurable metrics on a specific smaller time frame, strategy is the way you will meet the objectives, tactics are what you will use to implement the strategy.

Reporting the results of a social media audit adds additional context but also adds complications. The results of the social audit often reveals unexpected insights that conflict with current beliefs and/or strategies. The truth of these complications can raise tensions and anxieties as anticipation builds for a solution.

Act 3 Climax/Turning Point: This is where the climax or turning point of the plan happens. The high point of the plan and your presentation should be the reveal of the big idea that is going to solve the problem or seize the opportunity against the competitor.

Don’t just reveal it – sell it. Explain how the idea is more than creative. Point out how it is also a strategic solution. Describe how the research insights from everything before this part of the plan led to the big idea as the solution. This is the turning point, because the solution has been revealed and everything after this is result of that solution.

Act 4 Falling Action/Results: This is where the results of the research and insights and the big idea play out in specific social media actions. Recommend how the brand’s social media presence should change. Which social media platforms are ideal for the big idea, message and target audience? Which social media platforms need to be left behind? How does paid social media play a role?

Also explain how the social media idea integrates with current marketing efforts and other forms of traditional marketing promotion such as advertising and public relations. Show the full potential of the solution by explaining how social media can integrate with other areas of the business such as operations, R&D, human resources, customer service or sales.

The last action of the big idea should be examples. Paint a picture of what the strategy will really look like. Show the client sample content posts in each of the selected social media channels. Prove the solution works with a multi-channel social media strategy.

Act 5 Resolution/Denouement: The conflict is resolved. The client can now see the victory over the competitor. The final resolution is given and any remaining tension of not knowing how to solve the problem is released with a tying up of loose ends.

The final outcome includes a content calendar that shows when, where and how the plan will take place across the various social media platforms. A sample social media content calendar can be a great start.

Complete the path to their goal by explaining how success will be measured. This can be demonstrated through a social media metrics table that clearly links social media specific platform metrics to the business objectives established in the beginning of the plan.

The last loose end is cost. Let them know a how much the solution will cost. A social media budget template can help estimate these costs. The solution is made clear as the story ends and you have told the story of their future success.

Note that these five acts of a story shouldn’t appear in the actual plan and presentation as subheadings or defined titled sections. They merely guide what you cover, in what order and why to ensure you tell a story. A book or movie doesn’t stop in the middle of the action to alert the reader or viewer with a subtitles like “Conflict,” “Climax,” and “Resolution.”

What is the unique plot of your plan?