Are you looking for advice to help you measure your ROI?
For most businesses, being able to substantiate the allocation of resources into social media is a necessity. But it’s not always easy.
We asked 25 online marketing pros to share their best ROI tips. Find out what they had to say below.
#1: Measure Your Key Performance Indicators
People who try to set revenue expectations are setting themselves up for failure because people aren’t on social media to buy.
So, what should you do?
It’s better to look at numbers such as engagement rate, referral traffic and audience reach.
If I’m doing app install ads through Facebook, for example, I’ll measure cost per install. If I’m promoting content, I really only care about the traffic coming back to my site for branding reasons—conversions from social media content promotion are icing on the cake.
Eric Siu, founder of Growth Everywhere and COO at Single Grain, a digital marketing agency.
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.
Are you looking for tools to speed up your social tasks?
In this article, I’ll share four social media tools and tips to help community managers save time, show creativity and streamline community management for their companies.
Why Social Media Tools
The sheer volume of tasks can be overwhelming. But it doesn’t have to be. With just a few tools, individuals and teams can manage their responsibilities better, while presenting a successful social media presence.
Keep reading for four social media tools that will make your social media tasks much easier.
#1: Manage the Appearance of Links to Your Website With Facebook Debugger
We all know Facebook updates that include pictures and snippets of their content do unbelievably better than ones that publish bare links. We’re a visual bunch, us humans.
Has this ever happened to you? You updated a page on your website with new images. Then, when you tried to publish a link to the page on Facebook, you found yourself staring at the link text for way too long.
How can you find a targeted audience and encourage them to join your list?
The answer is to leverage the people who already like you: your Facebook fans.
This article shows you three ways brands are using Facebook apps to grab their fans’ attentions and encourage them to subscribe to their list.
Why Use Facebook to Find Email Subscribers?
Email converts new customers more effectively than any other digital medium. The key is having the right people on your list—the ones who want to hear what you have to say and are most likely to buy from you. That’s where Facebook comes in.
Your Facebook fans are probably fans because they already like your products or services. That’s a great start to finding a narrowly targeted audience that’s likely to buy from you.
A simple lead funnel gives context to the process. By engaging with your Facebook fans, you build trust. From there, you can ask your fans to sign up for emails that share information they’re interested in. With strong email and marketing tactics, you end up with sales and long-term customers.
Do you want new tools to simplify your job?
We asked a group of social media pros for the hottest social media tools they use today.
Check them out to see if these social media tools are a good fit for you!
Figuring out precisely what works in social media is a tricky (yet entirely necessary) proposition.
I’m always seeking to improve clicks, shares and social media engagement on my own content as well as our Convince and Convert clients’ content.
Recently, I started using RivalIQ to get at what’s working in social, and this easy-to-use, reasonably priced analysis platform produces a steady stream of insights while saving me a ton of time.
Here, I set up a collection of consumer products companies (RivalIQ calls them a “landscape”) for a strategic plan we’re building. With just a click or two, I can find the top 50 Facebook posts (by engagement rate or total engagement behaviors) among these companies over the past 7, 14, 30 or 90 days.
Is offering social customer service important for your business?
Facebook is the number one social channel so it’s likely to be the first line of contact for your customers, for both praise and complaints.
Answering your fans, owning up to your mistakes and keeping your fans in the loop go a long way to building trust.
Read on to discover five tips that will make you a customer-service superhero on Facebook.
#1: Answer Quickly
If you have a dedicated customer support department, the team probably has a process in place that works well in traditional channels (for example, a guarantee to respond within 24 or 48 hours).
But on Facebook (and Twitter) if you let that much time go by before responding to customer inquiries or complaints, you do so at your peril. In the social media world, two days feels like two weeks!
If you have a staff member who is monitoring your Facebook page throughout the day, it should be easy to respond to issues fairly fast. But if you’re a one-person operation, and it’s all up to you, you might have to set reminders to check your page a couple of times a day — first thing in the morning, early afternoon and once again in the evening.
My friends over at Post Planner do a really good job of keeping an eye on things (notice just how quickly they respond to questions).
Are you wondering how you can use images to take your marketing to a whole new level?
To learn about visual social media, I interview Donna Moritz for this episode of the Social Media Marketing podcast.
More About This Show
The Social Media Marketing podcast is a show from Social Media Examiner.
It’s designed to help busy marketers and business owners discover what works with social media marketing.
The show format is on-demand talk radio (also known as podcasting).
In this episode, I interview Donna Moritz, who is a social media and visual marketing expert. She’s also the founder of Socially Sorted, a blog designed to help small businesses achieve more with visual social media.
Donna shares the importance of visuals in your social media marketing.
You’ll discover the types of images that work best and the tools you can use to create them.
Share your feedback, read the show notes and get the links mentioned in this episode below!
Listen NowYou can also subscribe via iTunes, RSS, Stitcher or Blackberry.
Do you need a simple system that works?
If you don’t have the budget for expensive software, spreadsheets and a little of your time can produce some useful data.
In this article I’ll show you how to analyze the engagement and impact of your social media posts using Excel.
To ensure that you deliver great content that resonates with your fans and followers, you need to track, test and measure the posts you put on your social networks.
It’s really that simple.
#1: Build Your Spreadsheet
To begin, open Excel and create 14 columns that will contain the following categories to incorporate all of the information you need on your social media updates and posts:
- Calls to action
- Comments (replies)
- Likes (favorites)
- Shares (retweets)
- Total engagement
Are you looking for a tool to bring important analytics to one place?
In this article, you’ll discover four social media analytics tools that deliver clear insights about your business’s social media activity.
Social media analytics are more than numbers.
Analytics give you the data you need to improve your social media engagement, make marketing decisions and tie social media to your bottom line.
To use analytics effectively, the data needs to be presented in easy-to-understand formats.
Here are four tools worth checking out:
#1: Receive Automatic Reports Daily Via Email With Social Report
The one thing we check every day is our email. So it makes sense to get social analytics and updates automatically delivered to your inbox.
Social Report is a comprehensive analytics tool with a very affordable starter account that lets you to monitor up to five projects, each with an unlimited number of social accounts for only $9 per month.
To get started, sign up for a 30-day free trial of the plan that best fits your business.