From Tweets to Transactions: Measuring Social Media Success
LinkedIn and Twitter—you’ve been using these two platforms to present your latest product offerings to your followers, but is it working? Have you actually converted a Tweet to a transaction? Once your 140 characters are sent into the social media universe, are you tracking rather or not your social media measures have yielded a conversion?
How Do I Figure Out if this ‘Social Media Thing’ is working?
Social media and Google Analytics go hand in hand. Logging into Google Analytics you will find ‘Social’ under the ‘Acquisition Tab’. This section will give you an idea of which social networks are working and which require rethinking or strategizing. The overview of your dashboard gives you the number of sessions (visitor sessions) to your website from each social network. Keep track of these numbers and note any trends. Originally Facebook may have looked like a social network winner for your company, but now may resemble a dead-end. You may notice you’re gaining more traffic to your website via LinkedIn, but spend more of your time tweeting. The overview may lead you to shift gears and social strategy.
Digging deeper within Google Analytics, you will URLs you’ve shared across social networks. This will give you an idea of areas within your business that require more or less attention. If you’re selling products, which categories are web users visiting more often and for how long?
Lastly, conversions. What do you want your visitors to do once they get to your website? Do you want them to inquiry via a contact form, download a brochure or read a blog post? The beauty of Google is that everything on your website is trackable and you can specify exactly what a conversion means to you.
Measuring the Value of Social
Let’s say that I run a B2B business that specializes in selling packaging supplies to manufacturers within the food processing industry. I schedule this optimized tweet, “Custom retail #packaging to fit your unique #manufacturing needs – See how: bitly.com.” Hypothetically, 273 people view the tweet and 9 users click on the link provided. From Google Analytics, I can see the value or lack thereof of this tweet to my company. If my conversion goals include Request Quote, Download Case Study or any other valuable visitor action, I will be able to measure the value of my social media efforts. If I have 1 user request a quote for my product, I will consider this a successful tweet.
With this trackable information, you can combat the chatter that social media is an irrelevant waste of time within the B2B world. If you have the data and analytics to back up your strategy, your company will see the value of your strategic social media program. Consistently reevaluate your strategy, the time invested in your social strategy and number of conversions you receive.