While being active on social media is increasingly important for bands, there's much more to it than just starting up a few social profiles and gaining followers and likes. In order to get the most out of your time on social, you need to have defined goals - clear, strategic benchmarks and aims to ensure that you're not only boosting your vanity metrics, but that you're actually generating tangible business results, and ideally, making actual money from your efforts.
For every social campaign, you need to have a goal in mind - whether that's generating more sales, increasing customer loyalty or boosting brand awareness (or something else entirely). Only when you have a clear definition of exactly what it is you're trying to achieve can you track the relevant data points and metrics to align with those goals.
Basically, without defined targets, it'll be difficult to quantify your time and investment. Getting more followers is irrelevant if you really need more website visitors; getting more likes might look good, but are they then moving on to become paying customers?
If you're tracking the right metrics, you can learn what is and isn't working, and adapt accordingly.
To help with this, SalesForce have created this new infographic which looks at social ROI and the various metrics and goals you can use to track your results. It's a solid reference point which highlights the importance of the available data, and how it can be used to benefit your social strategy.