January 28, 2010 – Social media and social networking sites are nearly a given in any internet marketing approach. It’s widely accepted that given the prevalence of social media, businesses should have a Twitter account or Facebook fan page. Companies like Comcast and Starbucks have found great success in using social media to creatively reach out to and convert their audience.
That being said, for every social media marketing success, there are countless marketers who are left wondering if the investment of time-or money, in the case of Facebook’s paid ads-are worth the expenditure. Because social media is a relatively new approach to marketing, its success should be measured in new ways with an eye towards traditional media analytics.
Establish Goals For Social Media
The most important factor when measuring if your social media efforts have been worthwhile, is to ask yourself; What is Your Social Media Marketing Goal? Yes, it seems basic, but consider how rapidly Twitter and Facebook came to prominence. Perhaps you felt obligated to jump on the bandwagon and set up a profile before you had a chance to establish a clear marketing objective.
If you’ve joined the fray and you’re not sure where you were going with that Twitter or Facebook profile, don’t give up. Now is as good a time as any to determine what social media marketing goals you need to accomplish. The benefits of social media can most broadly be classified as:
Directly bringing in revenue
Strengthening brand identity and awareness
Both of these categories can be used to determine return on investment (ROI) of social media, though they are measured in very different ways. It’s easier to calculate the revenue generated from a Facebook or Twitter campaign-say for instance, you ran a Facebook-only offer that featured a coupon code that could be tracked-than it is to calculate more abstract information, such as how your Tweets affect your brand identity.
If you do not have the time or the resources to invest in social media, you are unlikely to achieve a tangible ROI in either capacity, whether it is customer conversions or strengthening your brand’s identity.
New Facebook Tool To Measure Ad Conversions
Luckily for those of us interested in fine-tuning our online marketing approach, social media is constantly evolving in an effort to make our jobs a bit easier. MediaPost.com reports that Facebook has announced it will strengthen its Facebook advertising services by adding a conversion tracking tool.
Anyone who has used Facebook ads knows that you already can target your audience using age group, geographic location, interests, language and the like. You can also track multiple ad campaigns, comparing the success-in terms of impressions and actual clicks-of each campaign and tweak your ad parameters as the campaign progresses.
The Facebook conversion tracking tool is expected to launch this spring and will allow marketers to better assess the orientation of conversions, showing the actual ad click or impression that led to the user taking the desired action, whether that’s calling for a free consultation, ordering a product or signing up for a company newsletter.
When developing an online marketing strategy it is important that you select a company that has Internet marketing experience, which includes copywriting, SEO services, and website promotion. We Do Web Content specializes in affordable SEO writing that will get your website a top search engine ranking. We combine organic SEO tools with web marketing know-how to increase the search engine placement and SEO ranking of your Web pages. Get started now by taking advantage of our FREE consultation – 1- 888- 521-3880.