If you do a quick search on Google you will find hundreds of results regarding the tracking of ROI (return on investment) on social media marketing. ROI will always be the standard to determine your success with SMM, but there’s a few other metrics that can give you an indication if you are on the right track with your digital marketing initiatives.
Here’s a couple of tips that you can use to measure your social media results. Even though there are more available, these are most likely the easiest to track.
Measure your social media results
Community: The easiest to track is building communities on various Web 2.0 channels such as Twitter, Facebook, LinkedIn and the latest one, Google+
Traffic: This is also easy to track and you can use Google analytics to track your traffic and a URL shortner service such as Bit.ly to check if people are actually clicking on your links.
Engagement: A key statistic to track is how your networks are responding to your activity efforts. You can track the number of conversations on Twitter, Facebook, LinkedIn, and Google+. You can count the number of comments and likes on Facebook, comments and +1’s on Google+, retweets on Twitter, comments on forums, comments on blog posts, and comments on LinkedIn. You can also use various social media listening tools for this as well.
Sales: If you want to track your leads and sales you are going to have to implement some sort of measuring and tracking results. You can use specific tracking campaign forms, tracking URL’s, tracking phone numbers, or simply asked the person that contacted you how they found out about you. There are other tracking options also available.
Conversions: The last piece to track is to check how many dollars were produced with all your social media activity.
Even though everyone will tell you social media is very easy to track and measure, it is not easy to track if you don’t have solid social media marketing campaign and strategy that you follow. SMM should be treated exactly the same as you would treat any other internet marketing campaign – follow it through.