Measuring the Return on Investment in Social Media is not at all simple, it is not an Exacat science, which is based on clear statistics, but on analyzing the behavior of users in a totally new environment; but it is not impossible for that reason. There are clear indicators that we can not pass up:
Undoubtedly, sales are a clear indicator that the strategy works. But in many cases this figure can not be taken as significant, given that the figures do not always fit our expectations. There are, however, many other related aspects that offer us very relevant data.
For example, our action in Social Media, even if it has not been converted, may have improved the degree of notoriety of the brand, the attitude of users towards it, and even increase the purchase intention? although there is still a small impulse for it to materialize? On the other hand, with these actions we can have obtained a considerable number of contacts interested in the product, to whom we know that we can direct a specific campaign, this one with greater possibilities of success.
Those other factors that tell us whether our Social Media strategy is appropriate or not can be:
The increase in web traffic, especially if it translates into aincrease in the time spent on the page, as well as the number of page views.
The number of comments and interactions in the social profiles,regardless of whether these are positive. The main objective of Social Media is to create a stable community around the brand, alive and dynamic, that serves as a source from which the company can extract information that allows it to know its users in depth. Its members, meanwhile, contribute to the growth of the notoriety of the brand, extending it among its contacts, increasing its relevance and with it its online reputation.
The decrease in the use of other communication channels with the client, such as the call center. If users turn to social networks as a means of contacting their company, it is as a result of a good Social Media policy. This also entails an added benefit, which translates into the reduction of telephone service costs.
On the other hand, it is a means that offers a closer treatment to the user, with the possibility of promoting his loyalty, as well as to know him in more detail.
How do you measure your ROI in Social Media? What other aspects do you have in mind to assess the effectiveness of your strategy?