In recent years, social media has skyrocketed in popularity, with 23 percent of Internet users spending all of their time on social networks and blogs. Social media has become one of the most effective marketing channels — and, according to the Content Marketing Institute, is a top channel used by marketers to distribute content.
But although social media has become ubiquitous, a major bottleneck remains: It is difficult to measure the return on investment for social media marketing. The recent upheaval in Twitter’s upper management and its decision to partner with Google’s DoubleClick platform to improve Twitter’s advertising performance measurement and attribution reflects the ROI challenges that marketers — and social media companies — both face.
However, your CEO doesn’t have to resign to prove social media ROI at your company. The Experiture marketing platform’s analytics tools can be a better solution to this dilemma….for marketers and CEOs alike.
Here are some ways in which Experiture helps marketers measure ROI from social media:
1. Lead Generation
Social media can be a powerful tool to generate traffic — and leads. Using Experiture, you can direct your social media audience to a landing page with an offer that matches the messaging and creative in your post, status update, or ad. Then, with Experiture’s best-in-class marketing tools, you can both capture and analyze responses — and engage respondents with highly personalized, automated marketing programs to continue the conversation started on social media onto other channels such as email, web, and mobile to facilitate a long-term relationship.
2. Getting to Know your Leads Socially
To get the most out of social media, you must be able to identify the social media channels that generated customer inquiries — and match those inquiries back to revenue generated from those customers. Armed with this information, you can guide your media plan – and optimize your marketing for the most successful channels. How effective were your ads on Facebook? Which social media outlet produced more customers or more revenue — Twitter, or LinkedIn? How long did it take you to win over those customers? With Experiture, you can answer all these questions and more.
3. Attributing Revenue to Social Media
Using Experiture, marketers can generate and track links specific to social media efforts — and pull respondents from these efforts into the integrated Data Marketing Warehouse, where they are tagged with their originating social media channel or campaign. By tying these originating channels or campaigns with customers, Experiture draws a straight line between social media marketing – and revenue from that marketing.
The Challenge of Measuring Social Media ROI
A major challenge in measuring the return on investment in social media is that—as is the case in real life—the quality of your social media leads matters far more than the quantity. Your number of followers is not nearly as relevant as how engaged those followers are – because the money they spend determines social media’s contribution to your business. So how can companies intelligently measure social media ROI and results?
Conclusion: Use Experiture to Prove Social Media ROI
In business, what can’t be measured, can’t be managed. And that’s the major problem with social media marketing.
Experiture solves that problem and measures revenue and customer lifetime value by social channel — giving the marketer total visiblity over social media ROI.