Social media is more of an important aspect of lead generation and lead conversion today than it has been in recent years. According to the MarketingSherpa 2011 Social Marketing Benchmark Report, over 60% of marketing leaders are looking to convert social media followers into paying customers. Still, social media continues to be a difficult medium to gauge the successfulness. Here are some factors to consider while measuring the success of your business’ social media efforts.
Determine what it is you hope to accomplish by utilizing social mediums and be sure to set realistic expectations. If it is to simply drive leads to your sales groups, keep in mind your sales cycle. If it takes 12 to 18 months to close business, you are not going to see an immediate return on your social media efforts.
Measure the amount of leads generated through social media and their conversion rate to determine the value of these leads to your organization. One way to do this is to customize your business’ contact information by creating custom links to landing pages for each social avenue. You can also create custom telephone numbers enabling you to specifically track how many leads each social medium is bringing to your organization.
Keep in mind that you may not generate a whole lot of activity right away. It takes time to build a large following and create brand awareness. Utilizing your employees to spread the word, as is mentioned in 5 Ways to Make Social Media Work for Your Business, can help get you there faster.
What is it your business is looking to achieve by utilizing social media? How do you plan to measure the successfulness of your social media efforts?