The question that all business owners ask themselves when planning their marketing strategy and the budget allocations is: “What additional revenue will the business receive from this financial outlay?”. ROI (return on income) is the catchphrase that is most often used during these discussions. To give any kind of indication of return, it means that a business’ strategic activities must be measured to see how successful each activity was.
Giving your business primary data from sources, other than relying on a customer remembering whether they saw a Facebook post or liked an Instagram picture, is essential for accurate analytics. Primary data allows a business to measure what activity / content posted by the business has attracted the most attention and action. Has a Friday funny gone viral? Well and good if it has, but did it attract more potential customers back to the business social media site or to the website, did it create more conversations in the business forum? Was it relevant to the business?
Web and blog sites can use google analytics, which can give a great indication of where traffic is coming from, where the customer is moving within a site and how long they are spending there. But – how do you measure the success of your social media? By typing in social media measurement tools into your search engine, you will be flooded with options, some more specific than others. There are free tools (basic versions) with costs to upgrade to a ‘full’ or ‘pro’ version. To help you make sense of all of that information, there are equally a number of blogs and other articles that list the pros and cons of various software. Quite often the decision of which metric to use will depend on a business’ budget, the time that can be allocated to reviewing the analytics, and also the expertise within the business.
A business will not make sales from a social media presence if your potential customers do not know that you are there. Promote your pages and links, engage with your audience and provide relevant content. If sales are your goal, make sure that your sales sites are easily accessible from your social media forums.
Where a post has created more fans / followers / +1’s , it can be classed as a good post. If that post has lead to a sale or sales enquiry on a website, phone call, email or in person, then it is a successful post. Not every post will generate a sale but it should generate interest and responses from the online community; without these responses – who is your business talking to?
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