How to Set Social Media Goals for Your Business

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The success of social media is based on the targets and goals that you set for your business. Without a well-defined goal, you will not be able to plan a successful social media strategy. Setting social media goals is one crucial factor in offering and enhancing social media presence and deliver value to your audience. When you start writing your goals and dig deeper every now and then on the progress, it increases your likelihood of getting there faster. 

88% of marketers around the world set goals and achieve them through the right purpose and direction. When you are good at creativity, data crunching, and attention to detail, developing the right social media objective and goals for your business become easier.

Source – SproutSocial

In the year 2010 in Canada, a research team studied the goal-setting effect on selective students’ academic performance. When the same set of students followed an intensive goal-setting program, they started achieving good results compared to the first result where they were not tied to goals.

Why are social media goals essential?

  • Offers clarity: They help you sell the right solution to the right audience.
  • Offers structure: When you are aware of what you need to perform, you can make an accurate decision about what type of content will go into your social media feed.
  • Easy to track progress: You can clearly understand which strategy worked and what didn’t when you have goals tied to your social strategies
Photo by NeONBRAND on Unsplash

How to set social media goals for your business?

Below are the frameworks that suit every business, regardless of what social network you focus on.

Define your broad objective

Just being on social media without setting a goal is not going to help your business. Few brands scatter fruitless efforts only to maintain their social media presence, but there is no impact on the business goals.

There are multiple reasons for businesses to pick their preferred social media channels. Setting a goal is essential, and this can be broken into different elements that can be measured and monitored.

Brand awareness

Social networks improve the exposure of your brand and customer loyalty when compared to other marketing channels. This could happen only when you start setting up SMART social media goals for every social action and campaigns you perform. Some of the social media marketing goals include brand visibility, reach, engagement, number of followers, shares, influence, nature of brand mentions, new sales, and more.

Customer retention

In the digital marketplace and digital economy, the customer loyalty shift is easier. Will any business wish to lose a customer? Absolutely no! So the key is to keep your customers engaged with your products and services. This can be quickly done when you set clear social media goals. Some of the customer retention metrics include churn, testimonials and customer recommendations.

Setting SMART specific Goals

Strategic planning is critical to set SMART social media goals. 

SMART stands for

  • Specific: a defined, simple and clear goal
  • Measurable: A goal with one or more metrics for the acquired results
  • Achievable: To identify whether the goal is feasible or not with the resources available
  • Realistic: Identifying whether it is possible to achieve the goals with the current resources of money and time
  • Time-Sensitive: Setting a timeframe for your goals, be it days, months or one year, or more.
Source – Falcon.io

How to apply SMART goals to social media?

Most of the companies fail to develop a social media strategy that matches their business objectives. Research states that 67% of marketers find it challenging to track and measure social media efforts. When you set SMART social media goals, it can help solve any of the social media problems you face in your business. They also help build cherishable customer experiences. 

According to SmartInsights, here’s a breakdown of marketers that set social media goals with specific goals

  • 45% of marketers look to increase web traffic
  • 46% to grow their brand’s audience
  • 48% to improve community engagement
  • 59% to increase the lead/sales generation
  • 70% to increase brand awareness

When you apply a SMART specific goal to your actionable social media process, you will get the desired results. You can also analyze your social media metrics to develop a strong social media strategy and then break them down into different tasks to execute.

Breaking down the objectives and setting specific goals

Multiple social media metrics can be tracked to measure your social media progress towards your business goals. But if you sit down and track each and every goal, you are going to waste a lot of your precious time. Instead, decide which one would be the most important goal for you to track?

You will only be able to execute this when you,

  • Understand your business goals and define them
  • Set SMART specific goals for your social media plan and strategy.
  • Make use of the right social media metrics to the business goals you set up.

Now let’s check how to track specific goals with examples.

Goal 1: Generate more sales/leads

The goal of any business is to generate more sales. You acquire accelerating revenue from your business when there is a huge inflow of leads and sales coming in. Now if you apply the SMART framework to your goal, this is how your well-defined goals will look like.

  • To increase the click-through rate on Facebook by within two months
  • Get 9% higher traffic through social media to landing pages by this year-end
  • Get 4% higher conversion rate on product pages in Instagram by this quarter

Apart from this, you also need to track additional social media metrics like click-through rate on Facebook Call to Action, conversions rate/revenue generation from Instagram product pages, and web traffic from pages through social media.

Goal 2: Increase web traffic

Most marketers make use of social media to acquire traffic to their website. Let’s check this with an example.

The business goal is to increase the web traffic, and now if you tie SMART framework to your goals, this is how it will look like.

  • 3% higher social ad click-through rates this quarter
  • 5% increased click-through rates on social media this year
  • 13% of higher social media traffic this year

You also need to track other social media metrics in the above cases, namely average traffic share, organic social click-through rates, and social ad-click through rates.

Free tools to analyze and monitor your social media goals

Social media analytics tools help identify how well are you executing your social media strategy and the areas of improvement. Here are some free tools that can be used to track your social media goals. 

Quintly

The best social media analytics and benchmarking tool that compares and tracks the social media marketing activity and performance. Whatever social media platform you may use, the tool will automatically check and visualize your social media marketing success. If you are looking for a complete social media management tool, you may need to look elsewhere. Quintly only provides detailed analytics and reports. Their custom plan starts at $300 a month. 

Cyfe

It provides one of a kind all-in-one dashboard that analyzes and monitors social data along with Google Analytics, Adsense, Amazon, WordPress, Twitter, and other online services from one single location. The only drawback is that their UI is not as modern as we like it and sometimes create confusion. They have a free plan and the paid plan starts from $29 a month. 

Buffer

It helps schedule social posts across multiple social profiles. It also tracks engagement and shortens links. While using Buffer, you may need to cross-check if your scheduled posts have gone through or not. Sometimes, there may be trouble posting scheduled posts by Buffer. They have a free plan and their pro plan starts at $15 a month. 

Keyhole

This tool offers real-time social conversation tracking for social media platforms like Instagram, Facebook, and Twitter. It amplifies and measures conversation across your campaigns and brand. Keyhole has stopped showing historical data these days. I hope it comes back. Their paid plan starts at $159 a month.

Wrapping Up

Goal setting is a powerful strategy that marketers need to pay more attention to. If you want to be successful in your social media marketing efforts, it’s always a good practice to set SMART social media goals from brand awareness to boosting sales and revenue.

Have questions or comments? Shoot them out below. We will try our best to help you find the right answer.