Tracking social media ROI: why is it so important?

21st July 2017

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Social media is no longer optional for businesses. There are over three billion internet users, and over two billon of them have active social media accounts, with many of the most popular social platforms becoming marketing giants; offering businesses a valuable tool to communicate directly with their consumers. 

That being said, social media shouldn’t just be undertaken for the sake of it, nor should it be a few generic posts that have no relevance to your followers or those you are targeting. To be done well, social media should be like any communication channel in your tool box, with SMART (Specific, Measurable, Attainable, Relevant and Timely) objectives.

In this blog post, we’ll explore what should be measured to obtain if social media is valuable to your business, with a particular focus on Facebook.

What shouldn’t we measure?

OK, so who doesn’t like to feel like their brand is popular? And what I mean by that is that you have a large following across numerous social media platforms but does this translate into anything tangible? The simple answer is NO! They are vanity measures that research has shown to be disconnected from any actual business results.

What social media are we measuring?

Wherever possible, we’re linking to sales whether online and in store for the vast majority of our clients; sales and increases in sales are often a key business goal and objective. 

Making sure as PR and social media professionals that we have access to google analytics is paramount to being able to track a social media users journey through the online sales process.

Here at Juno, we’re able to track the “order received” page on our clients’ website, and from that page, we’re able to link it to the source e.g. Facebook, email or google. This allows us to pinpoint if our activity and advertising are delivering on sales which are so important to prove the ROI.

In store is a little trickier, after all, you can’t stop and ask everyone how they’ve heard of you. What we do, is work with brands to have a section on their invoices that mention how they came to visit the store, this is especially relevant if they are ordering products that have been advertised and have exclusive offers on social media. We also ask them to show posts in store to claim their exclusive discounts as a way of tracking in store activity.

All this helps us to justify spending on social media and social media advertising.

Other measurements

Ultimately, for most of our clients, sales are the ultimate goal but there are other metrics we can measure in the interim.

Website traffic is a key one. If people are landing on your site, chances are they are taking the time to browse what you are offering and potentially make a sale.

Here are some of the metrics we use to measure traffic:

•    Traffic from social media – “How many visitors are coming from your social media channels?”

•    The share of overall traffic – “How much of your overall traffic does social media account for?”

•    The bounce rate of social media traffic – “What is the quality of the traffic from social media?”

•    Clicks on your social media posts – “How well is the messaging of your social media posts?”

And the best tool to do all these? Google analytics! But like any tool, they are only effective if you have people who can understand how everything links together and how it can positively impact your bottom line.

 

 

 

 

If you would like to discover how we can drive your public relations please contact us