If you’ve been using social media for a while and you’re still waiting for it to deliver positive revenue, here are some tips you can employ when your social media strategies are struggling to produce.
When you start any kind of social media activity, the ROI will probably be negative. Building revenue from social media activities takes time because you have to develop trust with your audience first.
Are you struggling to find measurements that are meaningful to your organization? Do you feel like you’re searching for a needle in a haystack of metrics?
Here are 8 useful metrics that you may not be measuring, but should be.
#1: Conversion Rates
Everyone wants to measure the volume of leads generated to get to the bottom-line ROI of social media efforts. But don’t forget about the value of the conversion rate! While the volume may not be there yet, the propensity to convert may be staring you right in the face.
The cost-effectiveness of social media has vaulted it to the top of the list of tools used to improve customer retention. But how do you measure whether social media is affecting your ability to keep customers?
One of the reasons measuring the return on investment (ROI) of social media has sparked so many discussions is because it’s not easy. The main barrier to end-to-end measurement is the lack of a true social customer relationship management (CRM) solution.