While to some, social media may be as simple as posting a picture to get some likes and followers, marketers know the actual value in being consistent on social media. Social media is a tool that can be leveraged to increase any brand’s return of investment. While we all want to make the sale, that’s not always the only ROI we’re looking for. An article from the MIT Sloan Review that discusses whether or not you can measure ROI in social media marketing reveals what you can measure. Here’s what they had to say “these behaviors then can be considered (and measured) as customer investments in the marketer’s social media efforts. This suggests that returns from social media investments will not always be measured in dollars, but also in customer behaviors (consumer investments) tied to particular social media applications.”
Consider measuring the behaviors and outcomes by defining the goals of your social media platforms. Use the data social media provided to leverage what your brand is looking for. Now, what do you post that’s not necessarily aimed at a purchase? For example, in a blog post, the goal is to get your audience to read the blog post. It’s a behavior for them to click the link and read. The goal would be to have our brand stick in their head and return in the future for a possible transaction; whether it be a purchase or a website view, it all matters. It can help you determine what’s working and what isn’t in your customer’s journey and how to fix it.
For more connect with me on LinkedIn.