There is no one size fits all solution to measure the ROI of your social media presence. You need to set up your own metrics; this depends of what kind of goal you have in social media. Awareness, sales or loyalty? This is the eighth step in our video blogging series about; how to develop your social media strategy.
If it’s awareness you can measure:
How many people are searching for you on Google, new visitors on your web page and number of mentions in social media. New Facebook fans and Twitter followers. New social shares is also awareness.
If you have a goal to increase your sales you can measure:
How many people ask for a business proposal through your web page (leads). Maybe you can use an online coupon and promoting it at a special social platform. Numbers of transactions (sales). New subscribers to your products or service newsletter.
If you have loyalty as a goal you can measure:
How many people you are serving in social media. Check out your bounce rate in Google analytics that’s not a good thing if you have high numbers of page views and high number of bounce rate. Keep your audience attention by linking to other great content on your site (call to action). You can measure how many repeating social shares you have, this is loyalty and also benefits your longterm SEO.
Followers and fans not a big thing
This hit people like a ton of bricks! Did you know that only 3-5% of your Facebook fans see the content you post? 88% of your Facebook fans never return to the fan page after they have clicked the like button, and because of this the EdgeRank kills your message. On Twitter it shouldn’t be about how many followers you have, because a lot of people is trying to game the system to get follow back. It’s all about engagement!
It’s your turn
Which metrics are you measuring? And how many metrics do you think is optimal to have? Please share your experience and insights in the comment box below.
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