The race for "likes", contacts, fans and followers is over. Before, these figures validated the success of a social media strategy. Today, these indicators are part of " vanity metrics ". Do not fall into the trap of these figures which do not help entrepreneurs or marketers to make decisions, they only serve to flatter the ego. To keep your eyes fixed on the right indicators, focus on the figures that matter for the development of your business . Measuring your social media ROI includes calculating your engagement rate.
This is the interactions obtained by your social media posts (likes, shares, retweets, comments, clicks) compared to the number of Internet users who follow your brand. 04. Push for conversion If you have bet on inbound marketing, you have the possibility to more easily measure your ROI of social media to prove the effectiveness of your actions. Promote your central african leads content (articles, infographics, tutorials, videos, etc.) on your social media to create traffic and strengthen your B2B lead generation strategy. How many prospects do you convert into qualified leads and then into customers? Consult often and keep your reporting tables up to date to track your sales performance (acquisition and conversion costs in particular) in correlation with marketing. Tip: If you use Plezi, a report can be easily set up by selecting your contacts that have “Social Media” as their source.
Calculate your investments on social networks Now that you know exactly how many customers social media has brought you, all you have to do is calculate your costs. Your costs may include social media advertising spend, but also the cost of your social media management and content creation tools, or the cost of your agency in charge of this channel. Once you have defined your cost, you just have to apply the formula presented earlier and presto: you have your ROI from social media! Now it is important to learn from it, by comparing it between your different social networks for example, or by period, to identify your successes and your failures. Are you already measuring your social media ROI in your quest for B2B leads? If so, what method(s) do you use? We invite you to share them with us by posting a comment!