The use of social media in business marketing and promotions help people to generate good amounts of leads and revenue for their businesses. This is the reason why businesses regardless of their size are seen using social media to expand their businesses. If you are able to blend the social media marketing with your business goals and several other internet marketing methods, you can certainly be able to monitor and measure the return on investment (ROI) for your business. The following are some of the best five ways of monitoring ROI of your social media marketing efforts. Let’s check them out:
1). Using coupons or promotions
This is among the best and oldest ways of monitoring the social media ROI. This technique simply replicates the way in which the marketers have measured the direct mail ROI. With the help of Facebook offers, it becomes simple for the marketers to embark with some promotion followed by monitoring their social media efforts using bar code/coupon code for their business promotion.
2). HTTP cookies
The other important option to monitor your social media efforts is by using HTTP cookies. This can be carried out when you add the HTTP cookies to different URLs that your current and potential customers, click over these links (the one you have shared over social media), their browser is simply cookied. In other words, these are tagged telling their visit over your site. Whenever any person who has tagged simply end up over the destination URL you end up establishing your web analytics, which eventually by using any social media or CRM software can be tracked easily.
3). Survey questions during the checkout or after the checkout
You can run a quick question the moment you see someone during the checkout process like how did you hear about our products or services- can be one of the best ways to monitor the ROI from the social media platforms along with the other channels as well. This question can be posed to the customers during the purchase or even after the purchase via a quick message or even through calling them out. This will therefore help you in monitoring the ROI of social media for your business without any hassle.
4). Web Analytics
If you are selling your products or services through e-commerce (online selling) medium you can definitely rely over the web analytics like Google Analytics, Webtrends, Kissmetrics, etc. These tools will help you in tracking the ROI of your social media without any hassle or issue. This however, will not tell you who is buying what but yes will help you in knowing the source of the traffic (like through Facebook, Pinterest or Twitter). If you have tried any ad campaign and get a tangible amount of traffic you can easily come to know what’s working for your business.
5). The CRM system (Lead Sources)
Another way to monitor the ROI of social media is through the CRM systems. It helps in adding the lead sources at the end of the URLs, which eventually allow you to know what is sold or bought through these links. If you are able to sell anything online then clubbing this system with Web Analytics can really help in keeping a check over social media ROI.
Final word
Considering the popularity of social media more and more marketers are seen relying over it for their business promotion and marketing. The above are some of the best five ways to monitor ROI of your social media marketing efforts.
Brianne Walter is a freelance journalist who has been writing about mobile technology, customer relationship management and women’s health for more than a decade. These days she is busy to contributes on amplify
