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Author: Henrik Sandberg
We have to measure how well we are doing on the social networks. If we don’t know that we can’t do it better. Okay, your big goal is to make more sales I guess. But there are some steps between social media and making sales.
Maybe your social media goal is SEO (you want to rank higher in the search engines), maybe its brand awareness, customer communication, or maybe generating traffic?
So before you measure anything and before you are calculating your ROI, write down your goal.
It doesn’t make much sense to calculate your ROI if you are interested in better customer communication, right? Maybe you should measure your customer satisfaction instead? On the other hand customer satisfaction leads to more loyal customers and therefore more sales.
Other social media steps metrics could be:
First you look at your social media altogether. But remember also to measure it separately. You might find only one or two of your social media channels are doing well. How much do you engage with your customers on the social networks? How much traffic do they provide? How many visits do you get to your website? How many sales do you get from the social media? Remember together AND separately.Track visit-to-lead conversion
Follow the money. Maybe you get one million visits from Twitter but it’s only the 75 visits from LinkedIn that brings the sale to your company. How many lead generations are you getting? Is Twitter better than Facebook? How are Google+, LinkedIn and Tumblr doing? When you are making your campaigns you will learn how many leads each social network can bring to your company. This will make you able to make better marketing plans and yes – better ROI.Track lead-to-customer conversion
Now you have your leads, the next step is to convert these leads into customers. You have to know from which social network your customers are coming from. This can help you to allocate your marketing budget to optimize your sale.Score leads and monitor the sales cycle
Score each social media channel. How long does it take for people from reading your posts to make the sale? The sales cycle can be very different. Some social media has much shorter sales cycles than others. What can you do to shorten the sales cycle for social media leads?Monitor site behaviors from your social media traffic
Get to know your customers. In a store you will watch how they are walking around in the shop. Do the same on your website. Listen to your customers by the way they act. Are they worrying about something, what are they checking before buying, what are their comments? If you can quickly show them the information they need, you will shorten the sales cycle and you will get a higher ROI.
Social media traffic is getting more and more important for more and more companies. If your company is not active on the social network and your competitors are, you will lose leads and sales. When you are doing marketing in the REAL world, you will monitor how the ad is doing separately. When you are doing PPC online you will monitor them separately.Set up your social media goal before measuring
The point here is that there are hundreds of ways to measure your social media work – BUT YOU HAVE TO SET UP YOUR GOAL BEFORE MEASURING. (Sorry for shouting.) And there are no excuses not to measure anything.
Now it’s time for my coffee.
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