22 October 2016

Important to take into account when measuring the ROI in Social Media Issues


Knowing the ROI in social networks is as important as complex. An activity that is not always pleasant, and on more than one occasion can make us think that is a big waste of time. However, it is possible to measure the ROI, and should learn to do it in the most effective way. For this, the article contained in Entrepeneur shows the keys to consider through the opinion of different experts and professionals.

What is the easiest way to measure the effectiveness of social media strategy?

As noted by Nichole Kelly, Executive Director of Social Media Explorer Google Analytics is the most advisable to register social behavior in our web traffic tool, and thus the conversion of those visits.

Important to take into account when measuring the ROI in Social Media IssuesHow you can trackear social conversions?

To do this, first you need to set targets for different types of conversion.Here we understand conversion not only as a sale, but as a record, a request for quote or more information or downloading a coupon. In short, anything that requires specific action by the customer, according to Leslie Poston, Senior Social Media Strategist at Flighpath. To set these parameters, Google Analytics also has all the necessary information and support.

Are there other tools to analyze this data?

In addition to the classic Google tool, it is also possible to use some other, offered under the freemium model, such as MOZ Analytics or KISS Metrics.These facilitate the task when creating report or delve into the results.

Is it possible to have all the results of the various social platforms in a single control panel?

Sprout Social is a leader in analyzing ROI for social networks, and is suitable for both large and small social networks. Kelly’s own company uses internally. Services include the possibility of concentrating all social channels in one place, and to analyze how interactions generate engagement, conversions, registrations or purchases, among others. It has a tool for creating reports, customizable, and reports on competition.

How to apply the data provided metrics to drive sales?

There is no foolproof formula to convert visits from social networks in sales. There is no equivalence between RT or Likes and shopping.Therefore, it should focus on increasing CTR and engagement, in order to increase brand presence and links with users. In the event that the contract brand advertising on social channels is important, as in any other advertising campaign, check the CPA.

What metrics are the most important when it comes to effectively monitor?

As indicated by Nichole Kelly, the most prominent figure to consider is the number of fans we get attract and maintain, compared with its cost. The comparative analysis of these data will establish relevant conclusions and meet the audience and make decisions accordingly and, most importantly, predict the behavior of users.

Is it possible to outsource the service measuring ROI?

If you have enough budget, you can resort to hiring a freelancer or a consultant, although it is a relatively simple activity. It is mainly a matter of properly configure the necessary tools, especially Google Analytics URL builder. Once this is done, you can easily measure and analyze the ROI of Social Media.

How often do you need to review this data?

It is important to periodically monitor the progress of the activity. He accessing at least once a week, according to Poston, although always depend on the social activity of each company and the objectives. Thanks to this ongoing analysis it is possible to know in real time what kind of actions or content work better, and specifically what that ultimately becomes. Thus it may reinforce the strategy in this regard.

What are the biggest mistakes to avoid?

It should not become obsessed with numbers, or indicators that actually contribute nothing like Klout. But should be able to unravel what really works, and work in this direction.

Measure the effectiveness of social networking strategy and its translation into conversions on the web is possible. Everything is a matter of appropriately addressing the objectives and configure the tools to carry out their monitoring. This task will help to identify what actions are those that actually work, spot trends and take action in real time.