Start The New Financial Year With A Social Media Audit

The start of a new financial year signals it’s time to review all business activities, including your social media marketing strategy. There is a lot that goes into this, but we think the most logical and efficient place to start is with a social media audit that measures the success of your current social media strategy.

A social media audit will help ensure your profiles are performing optimally, highlight your successes and point out areas you can improve on over the coming financial year.

Want to learn how to complete your own social media audit? 

Lucky for you, our team of social media marketing experts have put together some key pointers to help you improve your social media performance. We know the start of a new financial year is a busy time for business owners, so we’ve narrowed our process down to three quick and easy steps. Keep reading to learn more!

Step 1: Review how much time and money you are spending managing each social channel

Going over all your social accounts and profiles will give you the best indication of where a lot of your company’s time and money go as well as where you are best generating your audience from. 

It is beneficial to list your profiles on a spreadsheet with the following information:

• Account name & platform e.g. Facebook, Instagram, LinkedIn etc
• Which accounts you use the most: number of posts and stories, replies to comments and ad spending 
• Where your best audience engagement is
• Where you have the most amount of followers
• Where your sales leads come from

Step 2: Review the reach, likes and engagement on different types of content

Now that you have a list of where you are spending your time and what accounts are most active, let’s dive a little deeper into the content itself. 

For each account, take a note of what content is working well by looking at what content has had the highest engagement or reach and also taking note of what hasn’t worked. Note the content types as well as the topics and times of posting.

You could even go a step further and compare content trends over 12 months to discover trends for the best content and posting times.

The information you collect in this step can help you prepare new strategies for the new financial year ahead.

Step 3: Identify which channels and which type of posts are best value for money

With all the information you now have, refresh your social media strategy to focus on your best platforms, best content and posting times as an opportunity to increase engagement, aim for a higher retention rate on videos or reach more people with your paid posts. 

The things you put in place now could make all the difference in the next 12 months. 

Bonus Step: Review your Social Media Marketing Budget

This bonus tip is for those spending money on advertising and those that are thinking about spending money for the first time. 

Consider running paid advertising using your most popular content to grow brand awareness, engage followers or generate leads to make most of what’s already working.

Now with that all said, let’s recap.

1. Compile all your social accounts and profiles. 
2. Identify what to do and stop doing on your social accounts. 
3. Use your new findings to set goals for the next 12 months! 

And of course – Review your Social Media Marketing Budget

If you’re not quite sure where to start, we can help! Book in a professional social media profile review where our experts will provide recommendations to optimise your profiles and posts.