Measuring your social media ROI is becoming increasingly more important each day, but how we measure and analyze social data may be the most important factor. At Gumas Advertising, we've found that, with the help of Google Analytics and Klout, measuring the effects of social media on website traffic and brand awareness is easier than ever before. See how these tools help measure social media ROI here!
The main purpose of social media campaigns is to not only drive traffic to your website, but to also gain conversions. In order to achieve this purpose, it is important to understand the direct relationship between online media and sales. Luckily, Google has made it very easy to track this through Google Analytics, which gives the user a holistic view of where his/her digital brand stands online.
How it’s done:
Define KPIs (Key Performance Indicators): Whether it is time spent on the website, downloads or purchases, it is crucial to set up KPIs to establish a basis for comparison. Google Analytics Social Reports measures the impact of your campaigns in comparison to each benchmark, giving you an easy-to-read report.
Analyze Data: Google Analytics uses data to reveal social sources, highlighting which social networks drive the most traffic, result in conversions and, in turn, deliver the highest quality visitors. With this precious information, you can determine which networks are giving you the greatest ROI and which still need content development.
Leverage Data: Drive content marketing through Google Analytics’ various tools. Content Reports provide comparison charts, highlighting which content is leading to conversions on what network. The Social Value Graph allows you to compare your social media campaign to other sources, including search, direct and other referrals. And the Pages Report identifies which content has gone the most viral. This is extremely useful, allowing you to see what content is deemed “shareable” by your followers.
Take Advantage of Your Social Relationships: Your audience will make you work for their conversion. It takes a while to gain trust; you must provide incentives and offers over time for them to fully commit. Google Analytics makes this easy by differentiating between an immediate conversion or one from a returning visitor.
Social media is an extremely efficient advertising medium, allowing you to boost brand awareness while investing minimal financial resources. Regardless to whether a product was purchased online, the fact that the audience was exposed to the brand can greatly influence off-line sales.
Klout, the “standard for influence,” allows you to easily measure your brand recognition online.
How it works:
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Photo Credit: Digital Good
John Gumas is the Founder and President of Gumas Advertising, a San Francisco advertising agency that has been providing branding, advertising and marketing services for challenger brands since 1984.