Measuring your social media ROI is important, because it will tell you whether you have been achieving your objectives. How to measure your social media objectives? The answer to this question, together with four examples of business objectives to measure and the influence of social media on these goals, you will find below.
Objective 1 – Raise brand awareness
Raising brand awareness means optimizing your online presence and staying relevant, with the objective to increase visibility in social media searches, sites, popular search engines, etc. A couple of tools can help you measure your online influence and brand recognition. Klout, for example, reviews your social media profiles to assess your online influence (how many people you influence and how much for example). In a previous blog post we wrote about tools like Klout and PeerIndex, so we would like to refer you to that post if you would like to read more about this topic.
We recommended to monthly write down your Klout scores in a spreadsheet, so you will be able to understand which specific efforts improved those different scores. And remember, Klout only evaluates your social media presence and does not directly measure your revenue or success as a company.
Objective 2 – More online traffic to your website
Website traffic is important to all websites because it helps you achieve other website objectives. Creating an efficient and beautiful website won’t get you the results you expect without traffic. The more people are visiting your website, the more opportunities you have to increase brand awareness through directing them to your blog and social media profiles. You are probably curious to find out how to measure online traffic to your website.
Google Analytics is a very useful tool to measure online traffic to your website, because its program ‘Google Analytics Social Reports’ shows you data generated from over 400 social websites.
Objective 3 – Increase website visitor loyalty
The longer visitors spend on your website, the higher the possibility they will buy something from you. Therefore you should increase the amount of time they spend on your company website or company blog and create loyal visitors who frequently visit your website. You need to estimate how many visits are required for one conversion. A conversion can have different meanings, depending on what you established being a conversion. It could be a purchase by a visitor, an email newsletter inscription or the download of an e-book you offer on your site.
Google Analytics allows you to create an advanced segment so you can analyze your social media traffic. As the loyalty number of your visitors depends on the type of your site as well as on the readers and the content of it, you should make sure to set goals and measure them over time. Once you set up the segment it will be rather easy to keep evaluating your objectives in the future.
Objective 4 – A higher conversion rate
One of the most important web objectives for businesses is conversion to a lead through having visitors entering personal information into one of the forms provided on your website. This measurement should also be a primary focus of your efforts. How to measure the conversion rate from social media? Again, you could use Social Reports within Google Analytics, because this will help you to understand the specific value of each of your social profiles. To be able to make use of that tool, you need to set conversion goals within Google Analytics. Measure these goals monthly and process the data in a spreadsheet to monitor the changes.
Knowing how to measure your social media objectives will help you make the best use of your valuable time and resources.