Using Analytics to Measure your Social Media ROI

by / Tuesday, 19 February 2013 / Published in Social Media Marketing

Using analytics to Measure your Marketing is a must in today’s economy. You must know what marketing channels are producing leads and determine if those leads are quality or junk. With the introduction of Social Media as a new Marketing Channel many say that if you are not using social media you are going to be left in the dust. Before you decide to jump in feet first and start tweeting or posting, make sure you know how to measure the return on investment for your activity. These new social media channels may not have hard costs to use, but they do have a lot of soft costs including your valuable time that must be considered.  Adopt these social media marketing tips to GROW, ENGAGE and MONETIZE
your social media channels.

Grow:
1. Use a paid content strategy to drive new traffic to your
brand in addition to word of mouth.
2. Run exclusive promotions and special offers, catered to
new fans and friends of fans, encouraging viral spread.
3. Systematize growth by launching the same campaigns
across all social networks, maximizing coverage and
integrating your social marketing efforts.

Engage:
1. With traditional marketing, you choose media placement
based on predicted demographic profiles, historical
populations, and projected figures.
2. For the first time, your audience is telling you exactly
who it is.
3. Profiling of user interests, friend lists, employment,
education, industry, geography, groups, affiliations, style,
(and more) enables a rich understanding of your consumer.

Monetize:
1. Users expect specific activities when they’re interacting
with social networks— your typical e-commerce shopping
cart solutions are not intriguing in this medium.
2. Social selling involves activity with friends, gamification
of sales, or special offers exclusive to the fan community
3. Use advanced demographic and psychographic profiling
with segmentation strategies to offer users personalized
and meaningful experiences.

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