I'm sure you encountered these objections … "Where's the money?" "Show me that social media marketing works." "Show me the measurements!" If you're just starting out in social media marketing, be prepared, these challenges are yet to come. You may have asked yourself.
"You can't quantify marketing on social media," says one expert. "Everything can be measured," says another. Then the prayers come out Return to time spent. return to destination. Assistance return. Part of the voiceAnd the list goes on and on.
If you are a little confused, you are not alone! The dreaded "How do I measure the effectiveness of social networks?" is one of the most important questions that marketers want to answer – A survey of more than 800 social media marketing members.
Which is the answer
I gave myself a mission: to find the best way to measure ROI on social media. I asked marketing executives from large companies, checked the writings of all the leading thinkers, and contacted my colleagues. The following is an important discussion on measuring performance on social media.
Start by defining social media
The first thing I discovered is that it is important to rethink the common terms we use. And it starts with.
Social media is bigger than you think, Social media communities liked websites Twitter. Facebook or LinkedIn. You can also include people who comment on your blog and YouTube video They can even include private forums and communities hosted by your company.
Think about your activities on social media, as well as the groups, clubs, and organizations you belong to (i.e. poker meetings, parent-teacher associations, or even your church).
You join real groups because there is so much intrinsic value"Something that is difficult to measure." Maybe he does it for his children to give something back to others or to find company.
Your clients and potential clients are also there in some group. As in the real world, they are organized online.
Chances are good People in your target market are involved in multiple social networks, whether they realize it or not.Honestly, that was the first thing that came to mind, right?
Now an important question… why are you here? Why is social media marketing attractive to you? The answer to this question takes you one step closer to determining the return on investment on social media.
"At Avaya, we primarily use social media to support our customers," he said. Paul Dunay, Global Managing Director of Services and Social Marketing at Avaya.
Why do you use social networks? Here are some ideas (a possible trick):
- Get more exposure
- Find prospects and leads
- Increase site traffic
- Find new business partners
- Improve search engine ranking
- Reduces marketing costs
- Close more offers
- Improve the brand
And the list goes on. Make your list and get a starting point for a good ROI discussion.
What is your investment
The next question is What do you mean by return on investment? (ROI)?
In the traditional marketing sense, ROI means that you can calculate a measurable return for every dollar invested. If marketing was predictable and there were few channels, it was rocket science. Invest more in Channel X and watch the sales flow.
Social media is changing the game, Social media marketing it doesn't have to cost a lotIn fact, it costs nothing for most companies.
"The problem with trying to determine ROI on social media is that you try to set numerical amounts for human interactions and conversations that are not quantifiable," says the social media strategy. Jason Falls.
People who say ROI cannot be measured use some strong analogies.
For example, they mention real networks. What is the ROI of ironing a business card while queuing at the grocery store or shaking hands at a networking event? Yes, everything has costs. Business cards cost a bit and you may have paid to attend the event.
But what about activities that are so instinctive that you can never really measure costs? How about sending an email to a customer who simply says, "I appreciate you."
Tim ferrissAuthor of the arguments: "Every time technology becomes fashionable, the ROI in the excitement of the latest .com catwalk is lost." He was referring to the media sensation. TwitterFerriss is a huge advocate of measurements and claims that he can actually calculate the performance of his activities on social media.
but, To calculate a return, your investment must be measurableIt is really difficult to measure the cost of activities on social networks. A tweet here. ONE. Facebook Status update there. A friend request from LinkedIn…
Time is the most obvious option. tailor-made It is an asset that we all struggle with.
If time is your calculation, you can of course decide how much time you want to spend as a starting point. Why can't you think of a time value? For example, a man I know sets a price of $ 250 an hour for his time. all 4 The hours you spend on social media each week cost a lot.
But let me warn you… If time is your calculation, it should be reasonable in your calculations. All marketing activities take time. For example, writing copies or checking ads. If you spend time as a measure, you also need to measure the time for your other marketing activities to compare one apple to another.
Once you know the investment cost, it's time to look at the returns.
What return are you waiting for?
What do you hope to achieve? A key to measuring performance is determining what is actually being tracked.
"One thing that a lot of people do is measure how many Facebook Friends, LinkedIn connections and Twitter They have followers. In my opinion, it is a hollow measure."It doesn't matter how many names we collect, but how many we interact with, build relationships with, become our trademark attorneys and share information," said the marketing consultant. Elaine Fogel.
The area of measurable returns is wide and deepAccording to the objective marketing expert Katie Delahaye Paine, State Farm measures employee morale, and the Red Cross measures how sites like it Twitter Save lives and avoid injuries.
Yes, there are difficult measurements that you can track. Consider Avaya. "We measured the number of such Avaya social networks per week and the number of support issues we solved this week," Dunay said.
In other cases, the goal is to increase specific monitoring. "When you start a group on networks like LinkedIn, it's simply the number of group members or the number of individuals (such as CEOs) who join," he said. Mark Amtower, a professional seller.
Greater exposure may be another goal.
"Are you using social media to get your message across? Count the mentions. There are no silver bullets, but the more precise we can set our social media marketing goals, the better, ”he said. Joe Pulizzi by the Board42.
The next step
Once you have a clear understanding of the investment and return you want, you need tools to track results.
I would love to hear your thoughts. Having trouble answering the ROI question on social media? Let's get engaged Tell me what you think next