Measuring sales, leads, and contacts on the web is actually easier than traditional types of marketing and measurement. Do you think that you cannot determine the return on investment using social media? This is a misconception that many companies mistakenly have. You can improve the value of your social media campaigns by using social media metric or tools designed for measuring social media marketing. Learn how to use these tools. They are not complicated but do take time to fully utilize. However, once you have mastered the science of marketing measurement on social media you can readjust your marketing campaigns.
Follow guides that are listed on the internet specifically designed to teach about social media measuring. You can also use the question and answer sections on social media sites. If you want more hands on training, contact the customer services departments of your chosen social media sites and get to know a technician who will walk you through all the pitfalls of measuring and give you great advice and tips.
Measuring Social Media
Marketers who use social media often overlook types of media metrics. Hard and soft leads and their direct costs are metric measurements. You can use cost per click, cost via site visit and cost per inbound link measurement tools. These will give you a value on who visits your site and how many of these visits actually convert to sales.
Using Google’s Analytics custom URL will pass data from links on social media channels into the Google Analytics interface. Use SocialSnap that is a measuring tooling aligned with Full Frontal ROI methods.
When using social media marketing tactics include measuring. Make sure you are not measuring the wrong data. Using social metrics by counting fans and followers is not a core business driver. You need to measure sales volume plus revenue and the cost of doing business. You can measure costs easily but you do need to count how many followers and fans turn into clients and customers. This is designed into most high-end social media sites or you can use measuring software.
Think social media, but think about business when you use sites to advertise and market your business. Look at cost per impressions and cost per engagement. If you can measure the cost per lead you are starting to get the beauty of social media marketing and measurement.
As it stands measuring social media for your company is probably at a zero return. If you can utilize social media and measure the impact your followers have you will be able to determine what type of advertising and marketing is best for your company – and which site.
Cynthia Cavoto is the Founder/Chief Fire Starter of Firebrand Social Media, LLC. She can be reached at (203) 414-5509 or Cynthia@firebrandsocialmedia.com.