How to evaluate the success of your social media strategy

Nobody can deny the power of social media in our society. However, many car dealers are still not taking advantage of advertising opportunities on social media platforms, especially Facebook. On the latest edition of Straight to the Point, host Frank J. Lopes asks, are you really evaluating your social media advertising properly, or are you just scratching your head? Today, Frank takes a closer look at what car dealers are getting right, and wrong, about social media.

Frank has identified two main problems that car dealers and outside vendors often create in regards to social media.

1. Content: Many car dealers still put out social media content that looks outdated, and not effectively optimized. Frank adds that there is often nothing social about dealership social media pages. Where is the value for the user? Post content that embodies the trust, education, and transparency consumers expect today.
2. Success measurement: Over the past decade, the focus for social media has been placed on transactional lead generation. However, name recognition, top-of-mind awareness, and brand equity all need attention as well. Is a fresh lead worth more than a referral? Frank doesn’t think so. Use the following three measurements to track overall success:

• Reach: How many individual people actually saw your ad?
• Frequency: How many times did those people see your ad?
• Leads: Leads are important, however, measuring the success of a campaign by leads alone is bad practice.

The bottom line is nothing else has the incredible potential of reach like social media. So, make sure you are reaching your full potential today.

Did you enjoy this podcast episode of Straight to the Point? Please share your thoughts, comments, or questions regarding this topic by submitting a letter to the editor here, or connect with us at newsroom@cbtnews.com.