A popular question when it comes to social marketing is “how do you
measure the ROI from social media?” Well, the short answer is, you cant.
But, as with everything in marketing, it is much more complex than
that.
While you can’t directly measure the return on investment from social
marketing campaigns, you can measure a lot of other factors that
contribute to increased profits. Probably the best of these measurements
is the amount of traffic that your social media properties are sending
to your website.
Businesses and organizations with a strong Facebook presence, see
Facebook as one of the top sources of web traffic, and for most it
is the number one referrer of web traffic as well. And once you know how
much traffic Facebook is sending to your website, and you know what
your conversion rates are, then you can begin to estimate the value of
your Facebook marketing. But that is just the beginning!
The best thing you can do with
your social marketing is to allow and encourage two-way communication
between your brand and consumers, which builds solid, positive
relationships, in turn promotes brand loyalty.
While it may seem tedious to answer every comment, message and post,
building a good relationship with one consumer ultimately expands
through their social network as well, and we all know how powerful word
of mouth marketing is. According to Search Engine Watch.com,
62% of all online shoppers read product-related comments from friends
on Facebook, with 75% of these shoppers clicking through to the
retailers site. They also mention that 72% of consumers
recommend companies they trust to friends and colleagues.
Written for 3sixtyinteractiveblog.com
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