What Do You Want?
Before you start using social media the first question to ask yourself is, what do you hope to gain?
It’s no secret that social media analytics, the programs social media marketers use to determine what impact and interaction your social media network is having, is still sorely lacking. In fact, social media analytics haven’t improved much in the past few years. There are more social media networks and tools than there are ways to keep track of them. This is a problem for businesses which use social media for marketing because it limits their ability to judge a return on their investment.
There is no one-size-fits-all solution for knowing how impactful your social media marketing efforts are but there are simple steps you can take to put the odds in your favor when it comes to understanding your social media network.
First, create a well-defined set of parameters and stick to them. Know who you are trying to reach and how you want to reach them before you begin any social media marketing campaign. You have to be committed to this plan long enough to judge whether or not it is having any effect. If you set a goal and only stick to it for a week you won’t know how much impact your program is having.
Social media marketing is a marathon, not a sprint.
Second, create a very specific call to action for the people you are trying to reach. Lori Taylor says it over and over again: without a clear call to action you won’t reap the benefits of your marketing campaign; people will visit, say “that’s nice” then go somewhere else. You don’t want this. You want to capture their attention, then, while you have it, tell them exactly what you want them to do: join our group, subscribe to our newsletter, click this link. First you get their attention, then you give them a call to action.
With these two simple pieces of your social media marketing plan in place you don’t need a complicated social media analytics program to let you know whether or not your campaign is working. The proof will be in the pudding of your call to action.
While there is no single return on investment metric for social media, smart leaders seek out the ones that make sense for their business, Etlinger said. “It’s really easy in social media to measure fans and followers, retweets, and stuff, but that’s an activity–that’s not necessarily a result.” Instead, you want to get to a comparison like the cost to handle a customer inquiry online, which might be 10 cents, versus handling it over the phone at $6 to $10 per call when all infrastructure and labor costs are factored in. “Then you can come up with a social media metric like percentage of inquiries resolved outside the call center.”
Frances noted that in the old media world the link between marketing and sales was very tenuous and could only be detected indirectly through means such as surveys. Digital media created a lot of excitement and expectations around the idea that direct links from marketing to sales could be established, she said. “However, the science of attribution is still pretty darn weak.” The tracking cookie may show what link you clicked, “but it doesn’t show all the other influences that caused you to click” such as TV advertisements or offline conversations with friends, she said.
How much money are you losing because of poor website design?
Conversions are where websites pay off. You must see your site as your laboratory! If you're a blogger might want to gain more subscribers. If you run an ecommerce site you want more sales. Maybe you just need more leads for your business. Whatever the action you want people to take your job is to make it easy. Help them help you. This free report is the marketing glue you need to fix your funnel.