In days gone by, when you ran a marketing campaign you knew how much you spent and where you spent it and how much revenue was produced from it.
However, with Social Media, how do we know we are getting value out of our social media marketing efforts? All of the time spent in research, posting, blogging, writing, monitoring and responding to comments. What exactly are we measuring?
1.) Fans, followers, likes?
2.) Sharing, forwarding, retweeting of content?
3.) Sales leads generated?
4.) Time spent with content?
Let’s go back to our goals – are we interested in increasing fans and followers or is it to sell more products and services?
Social Media is strategic word-of-mouth promotion via our social media venues. We need to understand our target market audience (what motivates them), engage influencers and we have to apply consistent effort. Engaging our target audience, listening to their needs, their wants, their complaints and their praises – monitoring what effects our posts, news, pictures, responses generate – all of this is valuable feedback to what we, as organizations, can do better.
Ultimately and understandably, of course, organizations want to see a reduction in costs and an increase in sales. Increases in brand awareness, consumer education and lower support costs are unfortunately harder to quantify into a dollar figure. The customer service via social media interactions have been known to generate leads and sales opportunity.
How do we know we’re being effective? Is anyone is listening/reading?
1.) By setting up Google Analytics Social Reporting Tool – we can determine where our visitors are coming from, what pages they are looking at, how long they are spending there, where they go next, how & where they share your content.
(More at Google: http://www.google.ca/analytics/)
2.) By setting up specific URLs related to a social media contest, promotion or campaign. Analytics on these pages will allow you to see, in addition to the above, how long your site is holding their interest, and if they go on to take an action such as filling out a form or submitting their email address or sending an email.
It’s really not enough to just have visitors click through your social media site and ‘like’ you – you want them to take some action. Actively engaging visitors and having them take some positive action is the goal. This is how we know we’re being effective.
Thanks for reading.