Set conversion goals
Different organizations and campaigns will have unique social media conversion goals , though the ultimate goal is always to be part of a measurable action with monetary value. Here are some examples of these actions:
Buy online
Fill out a contact form
Click to our website
Download a PDF document
Interact through different actions
Conversion Tracking
The way to track conversions on social networks will vary thailand phone number data depending on the platform (Facebook, Twitter, Instagram...), the objectives we pursue and the budget. There are a number of variables that you should take into account to a greater or lesser extent, depending on your campaign, and these would be the main ones:
Reach: The more Twitter followers, Facebook fans, Linkedin group members, etc. you have, the higher the ROI for any campaign or promotion. Video marketing has huge viral potential and is perfect for achieving greater reach.
Traffic: Getting visitors to your website or other URL where conversions occur is an important goal of any social media plan.
Leads: Perhaps the most important social media metric, it is the ratio of potential customers coming from each referring site.
Customers: Track the number of leads generated through social media that convert into actual customers.
Conversion Rate: Tracking the percentage of visitors to your social media platform helps you understand what’s working and what’s not.
Assign monetary value to each conversion
Through the use of historical data (if you know the lifetime value of each customer, it is easy to determine the conversion value) and, if historical data is not available, through experience and common sense.
Measuring ROI on social media
Measuring total benefits by channel
Collect your site traffic and conversion numbers and create a spreadsheet that correlates the data to the total monetary value of those conversions.
One of the areas where measuring benefits can be more difficult is influencer marketing. Running campaigns in collaboration with influencers is a very beneficial strategy if you choose your allies well and design an effective campaign, but how do we measure success? We recommend choosing 3 key KPIs and focusing only on them. Some of the indicators that will interest you the most are the volume of posts, comments, the average number of engagements, reach, impressions and the number of new followers you receive. To track the metrics, there are tools that can help you such as Heepsy, Brandwatch, LinkedIn Social Selling or Buzzmonitor; try them out and stick with the one that works best.