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News and Marketing Insights

8 Great Ways to Track Your Social Media ROI

social media ROIAs a business owner, the push to use social media as an extension of your marketing and branding efforts is more prevalent than ever. Although the time spent on engaging your audience may be useful, do you really know the real return on your investment? 

If you don’t have the ability to track and analyze your social media efforts, you’re not doing it right. Here are some of the best ways to track you can track social media return on investment (ROI).

Tracking URLs

Tracking the URLs through Google Analytics will help you analyze and track the people who come to your website. Using this resource, you will be able to add values to your campaign that will track which areas of your site visitors frequent.

Klout

Klout is an app that measures the influence you have over your audience over social media. When used correctly, you will be able to see what influences your customers and how they view your brand. Klout can also recommend content that will strike a chord with your unique set of friends, fans, and followers. You can use scheduling tools to help you start the right conversation at the right time. You can then use your Klout Score to track the impact of this content: your score goes up whenever you share content that resonates with your audience.

Increase in leads

If you’re reaching your target audience, whether it’s on LinkedIn, Facebook or Twitter, chances are the level of interaction and consumer buys may have increased. This will give you a good idea of what’s working and what isn’t and allow you to qualify leads by seeing what they’ve interacted with.

Newsletter followers

Individuals signing up for your newsletter is a good indication you have an interested audience. Attach a value to each new addition to calculate how much of an impact they will make to your bottom line. If you have forms on your website, adding those new email addresses to your various lists will show your consistently building a follower database.

Use social specific promos

You can successfully generate sales and track how well the promotions are going by having a unique code on each deal on social media. Make this code only available on your social platforms, so you’ll be able to see how many sales came through social media. This will help you pinpoint which promotions work the best and better optimize for the future.

Use Google Alerts

Google Alerts will give you the information you need to determine how many people are looking into your brand, and the keywords you have used that are getting hits. This can help you as you formulate content on the web to attract more visitors.

Number of inbound links

Tracking the number of inbound links will allow you to see which campaigns are making the most waves in exposing and expanding your brand. Inbound and referral links are great for SEO purposes, just make sure they’re quality referral links and you’re filtering out spam.

Tracking Calls

By making a trackable phone number and implementing that on your website and pushing that phone number out via blogs and social media, you’ll be able to track the number of calls that come through the system. You can see how many calls came into that number, hear the conversation and see how long the call lasted. This information can help build the efficiency of your business’ sale/closing cycle as well as improve ROI.

These tips will allow you to use a number of methods to track your social media ROI, determine which methods work best and the levels of engagement you need to leverage your brand and convert leads into sales. Contact us today to review your options for social media marketing.