Are your clients constantly clamoring for social proof?
If you haven’t already done so, you need to find a strategy to measure your social media return on investment (ROI).
In this article I’ll share tools and tips to measure the ROI of your social media efforts.
Why Measure Your ROI?
ROI is proof that your marketing efforts are working. Clients and supervisors need to know if you’re successful… and you do too!
This is important for social media companies, consultants and in-house staff.
The main challenge in measuring ROI is keeping up with changes in algorithms, implementing the new tools that hit the marketplace and proving to your clients that they’re getting the most out of their investment in you.
Here are five steps for your ROI measurement strategy.
#1: Set Social Media Goals
ROI can be measured in a variety of ways: through customer acquisition, lead generation, clicks, revenue, contest entries, etc. It all depends on your goals. Before you can track and measure your ROI, you need to determine your goals so you know which factors you’re measuring and what success looks like.
Top 5 Metrics for Auditing Your Social Media Marketing ROI: Beyond revenue, participating in social media has many “beneficial business applications, such as facilitating customer service and boosting public relations.”
Reach, traffic, leads, customers and conversion rate are the metrics Pamela Vaughan on HubSpot suggests you consider to determine social media marketing success.
According to research conducted by Constant Contact, over 50% of small businesses need help with social media.
While many businesses have a social media presence, many are not engaging on those platforms and thus not meeting their goals.
With planning, your small business can use social media effectively.
Here are seven steps to a social media strategy for your business.
#1: Determine Your Business Objectives for Social Media
How do you want to use social media to help your business? What goals do you want to achieve?
Make your goals as concrete, measurable and achievable as possible. For example, if you currently get five new leads a month, setting a goal to get 100 new leads in the next 12 months is more realistic than setting a goal to get 5,000 new leads.
Have you had trouble giving an exact number to explain your ROI or even set quantitative goals for your social media?
25% of marketers said that their biggest marketing challenge was finding the ROI of their marketing activities.
In this article, I’ll show you how to tweak some of your social media actions with your business goals in mind and make them easier to tie to your ROI.
#1: Use Social Media to Promote Your Offers
Social media is an important channel to promote any content you create. Whether you’ve created an ebook, blog post, webinar or white paper, you should promote it through social media.
Do you know if your social media efforts are worthwhile?
Social media measurement is one of the most frustrating challenges business face.
In this article I’ll show you three simple measurement strategies that can fit into one of your future campaigns.
In order to measure the effectiveness of your social campaigns, it’s critical that you know your objective.
Are you making the most of your community on Instagram?
Instagram helps give your business a personal touch through visuals, so it’s important to bolster your community as best you can for continued growth and interaction from your audience.
Here are three tips on how to strengthen your community management efforts on Instagram.
#1: Use Tools to Manage Your Account
Instagram’s interface, whether on mobile or web, doesn’t offer the best options for brands to effectively engage with their community. Before the launch of the web version of Instagram, many tools were developed to fill in the gaps left by the network.
In this video I interview Dave Fleet, vice president of Digital at Edelman in Toronto.
Dave shares how social media measurement impacts businesses today. You’ll learn what strategies businesses are using to measure their social media marketing efforts.
Be sure to check out the takeaways below after you watch the video.
Are you looking for simple, straightforward metrics to measure the impact of your social media efforts?
Social networks and blogs continue to dominate Americans’ time online (accounting for nearly a quarter of total time spent on the Internet) according to a recent Nielsen report on social media, .
While we all know how important it is to market through the various social networks, it is vital to track and measure your efforts for success.
Here are five simple metrics to find out whether your social media effort is paying dividends.
#1: Examine Referring Traffic
Under the Traffic Sources tab, click on Referring Sites and then type in your social network of choice to see how much traffic is being referred. Set up goals based on the actions you want your visitors to complete.
Social media success sometimes appears arbitrary.
Perhaps you’ve wondered, “Why does company X generate leads and business from their social activity while my company wastes resources on blogs that don’t get read and tweets that go unanswered?”
Social media is so new, sometimes the path to success is unclear and it’s easy to lose your way.
Google’s getting social in a big way.
Google has been quite busy lately, rolling out Google+ (Google’s social network) to a limited audience, the Google +1 button (a feature similar to Facebook’s Like button), a new Google Analytics interface and Google Analytics Social Interaction Tracking.
Google Analytics Social Interaction Tracking
This new Analytics feature allows you to track social interactions on your website, your blog or on your Facebook fan page. These actions include the Twitter button and the Facebook Like, Unlike and Send actions.