Social media ROI (Return on Investment) is on the minds of all business leaders these days. In fact, according to the 2012 Digital Marketer: Benchmark and Trend Report, 91% of today’s online adults use social media regularly. With so many adults in the US engaging online through social media, business and Internet marketing professionals clearly understand the need to invest in social media.
However, when small and medium sized businesses are evaluating investments in social media, the following 2 questions often are top of mind:
- How can a business support social media in a scarce resource environment?
- Does social media ROI justify the necessary investment?
Without answers to these to questions, business leaders are uneasy about investing in social media since ROI has often been difficult, if not impossible, to measure. Those currently investing in social media who are unable to measure ROI often feel like they are flying blind, not able to readily tie business results to social media efforts and investments.
Given the overwhelming majority of a business’ target market is using the Internet and social media, marketing professionals also understand the imperative to be where their current and potential clients are, building and promoting the business offers and brand awareness online.
Measuring Social Media ROI
Does Twitter really work for business? How much time should you be spending on Facebook? What about http://go.experian.com/forms/experian-digital-marketer-2012., behind Facebook and Twitter, according to Experian Hitwise. Is Google+ something you should consider given is recent impact on search results with Google Plus Your World update where Google users search results are influenced by their social network? In the past, social media ROI has been extremely hard, if not impossible, to measure. With affordable marketing automation solutions available today, it is now possible for a business start measuring and reporting on the social media ROI.
- Collect data necessary to prioritize social media efforts/investments across channels (Facebook vs. Twitter).
- Determine how many leads and customers are attributable to social media and to which social channel
- Social media analytics – view number of clicks on an individual posts or tweet or see in aggregate.
Content Syndication across Multiple Social Channels
To have the greatest impact and ROI, content needs to be shared and syndicated across relevant social channels. Many marketers are overwhelmed by the task of consistently posting their content to a series of different social channels and profiles within channels. The good news, especially for SMBs with limited marketing resources to dedicate to the Internet and other channels, is that marketing automation software and services can significant reduces the resources required to syndicate content across several social channels. Marketing automation users can now schedule and automate social media posting/sharing to syndicate content in a highly efficient and effective manner.
- Configure blogs to automatically syndicate posts across social channels triggered when a blog post is published,
- Create and send all your social media posts from an integrated dashboard,
- Schedule posts to syndicated for preconfigured time by social channel,
- Evaluate click through rates by social channel, time of day and adjust for optimum results.
Managing Multiple Profiles by Social Channel
Think of the time and effort you spending logging into each of your different social media profiles every time you want to syndicate content within and across profiles? Marketing Automation allows you to pull all your key social media accounts into one dashboard where you can manage publishing and avoid the overhead of logging into multiple profiles by social media channel.
- Install the social media bookmarklets enabling you to share as you browse, sharing interesting 3rd party content when/as you discover it,
- View and send all your social media posts from an integrated dashboard,
- Pull in Facebook, Linkedin, and Twitter from multiple profiles by social channel.
Online Reputation Management by Monitoring Social Media Mentions
With Marketing Automation, you can also discover and follow individuals and businesses talking about topics relevant to your company, industry and most importantly, your prospective clients.
Tracking mentions of your industry, competitors, and other keywords across Twitter, LinkedIn, Facebook and other social channels can now be automated, enabling businesses to monitor measure and manage their online reputation 24x7x365.
If measuring social media ROI is important to your business, why not schedule your complimentary Internet marketing assessment to evaluate how Marketing Automation will enable you to measure your social media ROI.