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Social media marketing can all be a bit of a haze, especially if you’re going into it with an untrained eye. Your posts are getting interactions, but are they getting enough? What could you do to make them perform better? Are the conversions you're making off of social media ads enough to justify the time spent?
Data is what’s going to define success. Being able to measure how well your content is doing will ultimately tell you if you’re succeeding in the digital arena or not.
In the past decade, brands have flooded to Facebook, Instagram, Twitter and more — and many of those brands are your competitors.
What does benchmarking help you achieve?
Benchmarking is an essential practice for staying ahead of the competition on social media. In a world where nearly every brand is at some step in the process of creating a digital identity, you want to be following the example of the ones who are doing it the best.
You don’t have to spitball key strategies of your campaign — like how often you should be posting or at what time of day. By having informed benchmarks set up, that guessing game is removed from the situation entirely.
Benchmarks are very similar to key performance indicators (KPIs), but while KPIs can get a little muddled in wish fulfillment rather than reality, benchmarks use competitor and industry data to help markets define goals that are both actionable and achievable. For instance, if you set a KPI...
Read Full Story: https://www.entrepreneur.com/article/379625
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