How to Prove your Brand's Social Media ROI

How To Prove Your Brand’s Social Media ROI

Social media is a big component

in a marketer’s toolbox:

It can accomplish objectives

and take

businesses far.

So, why is it so

hard to understand

Social Media ROI?

As a social media marketer,

you know things like:

LIKES SHARES FOLLOWERS

MENTIONS RETWEETS

are good ways to measure success online.

But your company’s executives and decision makers

CAN’T UNDERSTAND YOU!

They understand

words like:

SALES COST REVENUE

Nichole Kelly,

author of How to Measure Social Media,

says these di!erent languages, or “metrics,”

don’t blend well.

It’s time to speak the same

language.!

As a social-savvy business person,

you should be able to communicate how

social media is accomplishing overall

company objectives in a way that is

understandable to the entire company.

Here’s 2 steps to translate

SOCIAL metrics

into

BUSINESS metrics:

Here’s how to translate

SOCIAL METRICS

into

BUSINESS METRICS

You’re already aware of

the Sales Funnel:

Brand Awareness Lead Generation

Customer Acquisition

Customer Retention

(Repeat)

a.  Brand Awareness

In social media,

brand awareness is demonstrated by

Impressions and Engagement

(Facebook fans or Twitter followers).

These prospects sit at the TOP of the sales funnel.

b. Lead Generation

This is measured by Leads and Content Conversions

(content downloads, webinar attendees, email opt-ins).

These leads sit in the MIDDLE of the funnel.

c. Customer Acquisition

After using social media and content marketing,

you have built a relationship with leads based on

trust and problem solving ability

(proven expertise/credibility, useful resources).

These customers sit at the BOTTOM of the funnel.

d. Customer Retention

These consumers have given you their business,

now you can keep them happy with continued

social media engagement.

These customers RETURN TO THE TOP of the funnel

to repeat the process.

Social media can be very e!ective at moving customers through the sales funnel.

Assure the rest of your company that social media is

Getting New Leads and Converting Them into SALES

…everyone can understand and appreciate that.

"#$!

"%$!

"&$!

In order to e!ectively communicate the progress that

your company is making, it may be helpful to explain

the subtle di!erences between social media strategy

and traditional marketing to the

executives of your company:

If you’re trying to get leads through social media, it’s important to know the di!erence between

Soft leads and HARD LEADS.

Soft leads are interested in you

and they might have given you their

email address in exchange for valuable content.

HARD LEADS are qualified prospects

that are well on their way to becoming a customer.

You can get soft leads through social media,

but

you will usually need an email marketing channel

to convert them into HARD LEADS.

Social media is for lead nurturing,

but usually not for selling.

Social media should be more focused on

building relationships, providing valuable resources,

and establishing credibility as a thought leader.

Saying “LOOK AT ME!” or “BUY MY PRODUCT!”

WILL NOT WORK

Try to avoid pushing your product, and instead,

focus on creating good content that moves your

consumers through the sales funnel.

As marketing or sales managers,

you will want to know the

cost and value of social media leads.

Cost can be measured by

the cost per impression or cost per lead.

Value can be measured by

how long it takes for the lead to purchase,

how much they have purchased, and

how many more times they have purchased.

Usually, leads acquired through social media are much less costly to your organization.

That makes executives happy.

Using these types of metrics will help your company understand the value of social media.

It’s easy to understand the ROI of your social media campaign if you work with marketers who can communicate the value of social media by explaining how specified business objectives were met through social e!orts.

Where can you find these marketing experts who understand your business and can leverage social

media to accomplish your organization’s goals?

Want to know more about communicating your

brand’s social media ROI? Read the full article here.

ParkerWhite crafts strategic marketing & branding to create meaningful connections between consumers &

brands for health, wellness & active lifestyle companies.

To learn more about ParkerWhite, visit www.parkerwhitecom