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Measuring your Social ROI

Everyone’s jumping on the social media bandwagon these days but the key question to ask yourself is do you really know what you are getting out of your investment? What does social media mean to your business’s bottom line? Part of a social media strategy is to not only determine what social mediums you want to engage in but to also set goals and determine metrics to measure against those goals. I know you are thinking, “But social media is so vague, how can you measure other than increased fans or followers?” You’d be surprised at what’s out there to help you measure your success.

First and foremost, all of your social actions need to have a purpose and a call to action. Your purpose can be to inform, engage, or respond to feedback, for example. Your call to action can be to read a blog, direct traffic to your website, gather pertinent customer information, participate in a conversation, etc. Currently there is not one all-inclusive social media monitoring tool (any entrepreneurs reading?), but there are a few things you can easily look at to deliver quantitative data points for that executive in your office who thinks social media is a fad and isn’t quite sure why he’s invested in it in the first place.

The same way you would track online marketing techniques can be applied to social media. Here are a few to get you started:

  1. Google Analytics  – This is a no brainer because it’s free. All you need to do is install a tiny line of code on each page of your website to start tracking your social media impact.
  2. Bit.ly – Start tracking your links. Even if the link is back to your website, you can see how many people clicked on it.
  3. Facebook Insights – Track your demographic. Link your blog in here and track  how many people like your blog posts.

More tools to come in a later post.

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About Tracy Sestili

Tracy Sestili is CEO and Chief blogger at Social Strand Media. She is also the author of Taking Your Brand from the Bench to the Playing Field -- Social Media Fundamentals for Business.

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