Measuring Your Return on Investment
One of the biggest questions during a social media marketing campaign is how to measure its effectiveness. How many people did your campaign reach? How many of those people converted into sales? Which post brought the most visitors to your site? In this section, we will teach you HOW to track the results of your social media efforts. It consists of the following:
- Creating and tracking landing page visits/form submissions
- Creating and tracking special offers and coupons
- Installing and analyzing Google Analytics
- Analyzing Twitter analytics with Tweetreach
- Analyzing Facebook with Facebook Insights
1. Creating and tracking landing page visits/form submissions
What do you do when someone is interested in more information regarding your product or service? We recommend you to direct them to a specific landing page that has relevant information on the exact product or service that the prospect is interested in. Recall, a landing page is the first page that an outside visitor lands on when viewing your website. If the page that your prospect lands on is not relevant to what they are looking for, you will find yourself generating tons of traffic to your website and no conversions. Below is an example of a decent landing page.
This landing page is short, brief, and to the point. It provides information about the business and offers an incentive to further engage the prospect. In order to receive the discount incentive mentioned, it requires for all interested prospects to fill out a form. As soon as someone fills out the form, the appropriate representatives at Broken Gizmos will be notified and can follow up immediately to convert prospects into sales. They can also use their information for future email marketing and text marketing campaigns.
At bare minimum, you need to have a form or survey for interested prospects on social media to fill out so that you can get in contact with them. There are plenty of free form and survey websites that you can use for your business to acquire information from potential leads. One of the more commonly used platforms for forms and documents is Google Docs. An example of a basic form created using their platform is listed below.
How to create a Google Doc form
1) Go to http://drive.google.com
2) Create an account or Log-in to your current account
3) Click the red “create” button on the left
4) Click form
5) Customize form to your own preference
What type of information should you collect from your prospects? You should collect information that allows you to accurately understand what the customer is looking for and use that information to make the sell. In the used car dealership example above, we asked “what type of car are you looking for” and “how much do you expect to spend”. This will allow the car salesmen at the dealership to follow-up with this lead with the exact car the prospect was looking for and within the price range they were willing to pay.
Nonetheless, every business sales process is different and the type information you need varies. As a general rule of thumb, you should always acquire the following information:
- Full Name
- Email Address
- Phone Number
- What they are interested in
On a monthly basis, organize all form submissions into a spreadsheet (Google Docs does this for you) and measure how many people converted into buying customers. Also, it may be a good idea to measure how many people viewed your form and did not fill out. This can be done through using Google Analytics, which we will cover later in this segment.