The first format for marketing we recommend is social media. The best part about it is that getting your company on social media is free, unlike other marketing methods. And if you’re not already connected with us on the major platforms, you can connect with us here, here, and here. We post relevant updates, articles, and promotions.
According to Altimeter, only 34% of businesses feel their social strategy directly correlates to calculable business outcomes. To demonstrate social media’s value, you need to measure social media’s return on investment (ROI) as it relates to your overall business goals.
Social media channels are an easy, effective way to connect with your audience and get them to engage. The brand awareness created by social media—seen in metrics including “likes” and “Retweets”—is valuable, but not enough.
Key examples of social media metrics to track include:
- Reach
- Site traffic
- Leads generated
- Sign-ups and conversions
- Revenue generated
Once you’ve established your social media goals from the above list, you’ll need to use tools that help you measure the ROI on your social media. The easiest tool that we recommend is Google Analytics.
With this installed on all of your sites, you can track website traffic, on-site conversions, and sign-ups originating from social media campaigns and posts that you publish.
You should be checking your various social media metrics frequently, often daily, to ensure that your social media goals are being met. The lifecycle of social media campaigns is often very short, so you need to stay on top of the data as it happens. Choose a timeframe that works for you, and stick to it.Once you’ve set your goals and installed Google Analytics, you’ll want to spend some time actually tracking your social media ROI to prove the success of a campaign.
Pro tip: You can have reports sent to your email inbox on specific days of the week so you don’t have to even remember to pull reports yourself.
Once you’ve identified what works and what doesn’t work on social, adjust your strategy. And due to the short life span of social media campaigns, a failing campaign should be changed and improved as soon as possible. Always remember that social media is never static. To meet your social media ROI goals, you’ll need to constantly update and adapt your strategy taking into account the analytics data you’re tracking.
By posting regular, valuable content that your audience can relate to, you will expand your reach of followers, and send people to your company’s website. From there, they will take steps to become a sales lead, a member of your newsletter, or purchase your product directly from your website’s shopping cart.
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