3 steps to measuring your social media roi
DESCRIPTION
As marketers, we all love a retweet, like or +1 for brand awareness - but what use are they if we can't prove their effect on the bottom line?TRANSCRIPT
Still scratching your head about social media ROI?
You’re not alone!
With only 8% of companies saying they can actually determine
return on investment from social activity, it’s clearly a subject
that’s still stumping the B2B marketing community.
As marketers, we all love a retweet, like or +1 for brand
awareness, what use are they if we can’t prove their effect on
the bottom line?
Follow our 3 step guide to measuring your social media ROI
and impress the rest when you can say you’ve finally cracked
it.
Set your goals and understand where your opportunities are 1
Track your campaigns
Report, analyse and rethink
measuring your social media ROI
Follow our 3 step guide to
2
3
Follow us for more B2B marketing
and lead generation tips www.leadforensics.com
Set your goals and understand
where your opportunities are
Over 85% of businesses use social media in some way, but
only 14% can tie revenue to their activity. With all this
confusion, it’s time to go back to basics.
The first thing you should ask yourself (and it’s often
overlooked) is “what are my goals for social activity?”
Do these goals link back to your business goals? If your goal
for the quarter is X number of leads, set how many of these
you want to come through social channels.
Review your existing performance to establish your
benchmark, then set your goals based on improving those
numbers.
3 steps to measuring your social media ROI
www.leadforensics.com
Only 14%
of companies can tie revenue to
social media activity
Step #1
www.leadforensics.com
The next thing you need to ask yourself is “where
do my prospects spend their time?”
Understanding what platforms your prospects are
using will help you better target your social
campaigns.
And although Facebook and Twitter are the go-to
choice for most companies, it’s actually LinkedIn
that comes out top for B2B lead generation with
over 80% of leads generated through social
media coming from LinkedIn.
Over 80% of leads generated
come from LinkedIn
Measuring likes, shares or retweets gives a great indication of
the buzzword of the moment – engagement. But it doesn’t
always translate to leads or sales activity, and definitely won’t
help you calculate your ROI.
The key to successfully measuring your social media ROI is
simple – have a clear set of factors and stick to them across
every channel. As we mentioned earlier, if your goal is x
number of leads from social channels – what tools and
processes will help you measure this?
Link shortening tools and unique landing pages are a great way
to start…but they won’t separate website visitors from your
sales –ready leads. And when 98% of website visitors don’t
enquire, it’s crucial you have a system in place that can help
you identify who is ready to buy, and track them back to
specific social campaigns.
When you post links to social platforms, Lead Forensics allows
you to track which businesses have clicked on that link and
what they’re viewing on your website, and is a great way of
tracking back to the source.
And by being able to see what they’re viewing on your site,
you’ll know if they’re ready to buy and can track these leads
back to specific campaigns - accurately attributing revenue
when they convert.
Step #2
Track your campaigns
3 steps to measuring your social media ROI
www.leadforensics.com
“Lead Forensics allows us to go beyond standard
analytics and understand who our customers are, their
preferences and their buying behaviour. “ Andrew Nicholson (B2B Marketer of the year ’11), Sodexo Prestige
“Lead Forensics isn’t just about how many people have
clicked, it’s about who clicked. There’s so much insight
you can gain from marrying up Lead Forensics with your
social and digital channels.“ Callum Gill, Marketing Manager, DRP Group
Once you have your goals and tools in place, it’s time to actually calculate your
ROI. Build out a social dashboard that takes into account 4 factors – your goals,
your measurements, your benchmarks and your costs. And use these 4
factors to feed into your ROI calculations.
And don’t forget, it’s how you analyse those results that will really affect your
bottom line. What are your best performing platforms? What content are you
sharing that gains the most engagement?
The key thing with measuring social ROI isn’t just to prove value of your
campaigns, but to improve and increase their worth over time. And when over
one-third of global B2B buyers use social media to engage with their
vendors, it’s clear that, as a channel, it’s not just about you building brand
awareness anymore...
Social media is becoming less about broadcasting and more about inputting to
an ongoing conversation. And with the current social media user count at over
1 billion, that’s a very big conversation!
Rethinking your social strategy is all about getting to know your audience and
engaging with them in a meaningful way that makes you their go to choice for
knowledge, advice and (most importantly!) business.
Step #3
Report, analyse and rethink
3 steps to measuring your social media ROI
www.leadforensics.com
Over 1/3
of B2B buyers use social media to engage
with vendors
Lead Forensics has already helped many B2B clients solve their social media
ROI challenges. By providing unparalleled insight and tracking capabilities
you can uncover who your website visitors are, identify when they’re ready
to convert and track every sale back to the source.
Arrange your free demo and trial today by calling 0207 206 7293
98% OF B2B WEB VISITORS DON'T ENQUIRE...
...WE TELL YOU
WHO THEY ARE!
Uncover your anonymous
website visitors
About Lead Forensics
Identify the businesses that visit your website
but don't enquire. Access full information about
those businesses including their business name
and contact details.
Action leads before your
competitors
Gain the competitive advantage with real time alerts when businesses of interest visit your site, and automatically assign leads to your sales team to action immediately.
Understand your prospects
online journey
Track the end to end journey of the
businesses visiting your website, so you can
gain insight into what they are interested in.
Arrange a free demo and start your free trial today. Call 0207 206 7293
Turn your anonymous website visitors into sales leads, convert new business
opportunities before your competitiors and increase your online ROI.