Measuring social ROI
Social media sites are in BIG Demand For Digital Consumers. Every internet user says they have somewhere “special” on the internet- they spend more time on it than other media. But the only way to discover which sites and social communities are best suited to your brand is to test them thoroughly and get a detailed understanding of every available channel.
By comparing the metrics most suited to each social media outlet you can easily determine the ones that they are suitable to.
Balancing Online Presence & Offline Analytics
You have to balance your online presence and offline in order to decide which channels are the best ones for your brand. Although they have proven to be highly effective, they require a consistent investment of your resources and time to obtain the results that you want to see. The traditional ways of viewing brand measurement include:
In order to maximize everything you do, ensure that you understand how social marketing is distributed.
Web Analytics by Google includes a “preferred media” outlet list, where you can rate every kind of channel on the list according to the performance that they gave your website. By comparing which outlets are giving you the best traffic, you can more easily compare, which ones will make your next move.
For instance, Facebook likes got you to your site, but nothing else did. Therefore, instead of telling Facebook that you like Facebook, you could also tell Google the exact page that your fans visited, letting them know the kinds of questions they were asking.
Not only is this a great way to keep your analytics fresh, you can also see which of the outlets are working for your brand. Is the effectiveness of Facebook and Twitter reduced? Why? It might be that your format is difficult to engage with, or that your audience is searching on Google and it is too expensive to advertise on Google via keywords.
The key to all this is to do IT. One will never tell you this, but knowing how much you spend on social media gives you an advantage. If you can get your ROI increased by 10% with the beginning of your online promotion – then you know make it all the way to the end by harnessing ALL the various outlets.
“Monthly payments by brands that range anywhere from as low as $1/month to more than $1000/month.” What Does this mean? These companies collect and use information from magazines, journals, and web based conversations. By assessing the more influential outlet’s media results, they can make customisation’s to suit a marketer’s needs.
The alternative is to pay an expert every time your analytics tells you your website is too small, or that a trendy field is too successful.
For offline implementations try this: if you know where the customers are, if you track every metric related to the website to determine spending and finding their results, you can easily deductible a bounce rate since you’re the admin of a site, there is going to be modifications you may have to make to your site to fit offline needs. On the other hand, there are things like real estate who can do this expense right off the front to fit the needs of offline marketing.
Now to summarise
Measuring social media ROI can be difficult because many companies try to measure success through metrics such as likes and tweets which can be hard to measure. Ways to measure social media ROI is through built in analytical tools, Google analytics, Facebook offers and conversions.