Social media strategy: long live the ROI!

After having let this blog for a little while (2 months!) I finally have the chance to write again. On eof the main topic I have today is the ROI of social media. Many things have already been said for years (I remeber when I started working in social media business and people saying efforts where not measurable)

Yet it is reall surprising that such debate still exists. But within a company, how can we engage money without determining KPI that will assess if your efforts are worth it.

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How can we measure what we do?

If you are company your first intention is to sell something: a product, a service, your own image or your reputation. In other words, you want to create awareness and then count on this awareness in order to generate an interaction.

Measuring something implies that you kow what you are looking for.

Lincoln Memorial, Washington DC

Therefore, if you want to adjust, correct and improve what you do you really need to measure what you do.

What can be this indicators?

You are launching a LinkedIn page for your business. You plan to recruit through LinkedIn? this is clearly a good indicator to find out if the personn you’re going to recruit has been applying through LinkedIn.

You have a facebook page dedicated to your online shop? Share coupons only available on the Facebook page in order to measure the number of people watching at your content on Facebook.

You want to increase your reputation? Launch your social media plan and measure if it results in effects like: questions about your products by potential customers. Once you’ve engaged with them, ask them to post about their experiences on this same facebook page.

Design your own KPI

Of course this kind of measures are not scientific measures. Yet they deserve to be collected and analyze. And if the volume is not sufficient in comparison to your sales, then you might be considering to finetune the metrics, change it and find new ways to measure your activity. In other words, you are unique, you know your business but try to think outside of the box in order to find more accurate metrics…

But be sure that it won’t be a waste of time to find out your own indicators instead of using standardized ready to use data (like impressions on facebook). Of course it can be tempting to use already existing indicators, but don’t be lazy!

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Don’t forget that the metrics you’ll defined will be all the more accurate if they take into consideration the all customer journey! Efficient metrics will lead to real ROI and increase your customers and audiences satisfactions for sure!

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