By Jay McKenzie, Director, Content and Social Media, BDX

Most builders agree social media has moved well past the fad stage to assume its rightful place as a core tool to drive their business.

At BDX, our team of professional social media agents manages more than 30 social media channels for our brands. We also manage social media for an increasing number of top builders across the nation.

As we conduct social media reviews for our builders (or share the latest on social media for builders at industry events or webinars) I speak often with builders from all regions and buyer segments.

In each case, I ask builders what metrics they track for social media and how they track it. Their answers vary widely and many seek our advice on what to track. Here’s a recommended, two-tier approach to tracking the core social media metrics that most impact your firm’s success:

Tier One: Musts Benchmark your firm against major competitors. Set goals. Actively manage to goal. Measure month-over-over month and year-over-year; week-over-week is overkill for most builders.

1)      Reputation Management – Like it or not, buyers, shoppers, Realtors and others are talking about your brand, the homes you build and service you provide. You can’t share great comments or reply to concerns if you’re not listening. In addition to listening and responding courteously and promptly, track what’s being said and trends in both positive and negative comments over time.  Tracking complaints can help you root out and fix any recurring issue.

2)      Audience Growth – Many builders believe a Fan will stop following them once they buy, build or settle in. That seems logical, but I see less evidence than you might think. Plus, smart builders make heroes of current and recent homebuyers. You want testimonials to share with future home shoppers and doing so also keep owners in the fold. Measure total fan growth overall and by social media platform (Facebook, Twitter, Pinterest, YouTube, Google+, Instagram, etc.)

3)      Reach – According to a top Facebook exec, the average post by a brand reaches 16% of Fans. Facebook has billions of dollars of cost. Advertising accounts for more than 90% of Facebook’s revenue and the 1 billion user platform faces intense shareholder scrutiny. By an astounding coincidence, your reach soars when you invest $10 per day to promote your best posts. I wait to see which Posts get the most Likes/Shares organically for a day or two, and then back one with $10 a day for 4-5 days. Do this four or five times a month. It’s a big reason why BDX’s social media fan base grew 5x last year. It’s also a popular service we offer our social media clients.

4)      Referring Source and Traffic – Which social media platforms are driving the most traffic to your website and to your blog from your social media posts and how is each trending?

5)      Engagement – How many Likes and comments are you earning? This is a function of the quality and relevance of your posts and how many people see them (see Reach, above).

6)      Shares – The big payoff from engagement. You want fans to like and share your posts, especially posts that contain links back to your website and blog, which send their friends back to you.

7)      Conversion – Hopefully, you’re using the many great and free features of Google Analytics and Google Webmaster Tools – and setting goals for key conversion events that drive your business. Set goals, track them obsessively: visits to your site from your major social media accounts, pages viewed, time-on-site. Focus on vital actions that will ultimately drive sales: lead forms completed, newsletter sign-ups, driving directions viewed, printed or sent to a smart phone, phone number reveals or clicks, model home and sales center hours and address, etc.

Tier Two: Valuable to Track/Manage

Other Valuable Metrics

• First-time and returning visitors – Ask how BDX can help you re-target and re-connect with visitors to your listings on BDX and your website
• Bounce rate
• Click-thru rate
• Cost per click
• First-touch, last-touch and assisted conversions
• Influence – Klout and Kred offer you a free measure of your social media influence and clout. Is it increasing? How do you compare to other builders?

This list of metrics is just a fraction of what can be tracked and the list could go on and on! Let us know what metrics that you track not mentioned here and we’ll share them with our builders and credit you.

Jay McKenzie heads up content and social media for BDX. His team of social media agents focuses solely on home builders. For a free review of your social media or to discuss how BDX can assist you in fully leveraging the fast-changing world of social media email info@thebdx.com.