If you’re new on Facebook and you want to grow your business, setting up a fan page is the best idea to reach your target digital audience. However, did you know that there are initial steps to be taken before creating that fan page?
In order to correctly reach your target audience, aside from identifying your objectives and tone, you should also set KPI’s.
What are KPI’s?
KPI or Key Performance Indicators are a set of metrics and numbers your fan page should target to hit your objectives. For newly created fan pages an objective most business aim for is acquisition or what we all know in Facebook lingo as “Likes.”
So how do you set-up your KPI?
Identify your objective – A Facebook fan page objective would always be dependent on your over-all business plan. If you’re business is all about generating leads then “reach” and “likes” might be a good objective for you. Reach is defined as the number of people who saw a post or your fan page in their newsfeed. If you’re objective is more on creating brand loyalist then “engagement” might be a good target for your page.
Remember, reach, likes, and engagement are metrics that can be measured to ensure that your objectives are met.
Benchmarking – Once you’ve identified your objective and metric, the next step would be benchmarking. This requires a little research, patience and data. The most common practice which marketers use would be using your competitors Facebook fan page data as a benchmark. If you’re metric is acquisition, you can use Google’s Wildfire to get an insights report on the growth of a fan page as well as side-by-side competitor analysis. This will help you generate a specific a number you can aim for to help you with your KPI.
If you’re metric is geared more on engagement you can use the industry metric that SocialBaker released based on their study of hundreds of fan pages in their database.
Setting the Numbers – Once you’ve gotten all the data and benchmarks you need, generating a specific number could be a little a tricky. If you think the numbers of your competitor is feasible to your own brand, you can aim for the exact number or something closer to that. Once you’ve set the number, it’s important to set a time frame. For Facebook, a monthly KPI is ideal because you can adjust it according to the performance a Facebook fan page.
So there you have it. Once you are serious about setting up your Facebook for your social media marketing effort, you will find that having your KPI properly set with your goals will be most helpful. This will be the focus that your campaigns, and in fact, all your efforts and endeavors will be based upon. Without it, it will be difficult to measure just how effective and worthy your efforts are. Are there any other KPI factors that you are aware of? Share your comments with us. We would love to hear from you.