When embarking on a new social media campaign, the main objectives given by our clients have always been to increase awareness of their brands. Key indicators that help them determine our success are # of fans, # of page views and # of posts. As an agency we strive to de-mystify social media and part of our efforts to do so include allowing clients access to all of our analytical information, which means that these figures are readily available to them and can never be manipulated in order to make us look better.
Our engagement levels have been consistently impressive, which is lucky for us as the only figures we’d ever consider massaging are of the human variety (ideally Johnny Depp’s). However, one of the most important indicators of social media ROI that is often overlooked or immeasurable is how many sales are generated via a social media platform. We are in the fortunate position of not only managing a particular clients social media presence, but also running their eCommerce, eCRM and global website. Our position here as a full service agency allows us to track and measure the impact that any social media posting has on website traffic – specifically the eCommerce pages and calculate how many sales have been made to consumers that have accessed the eCommerce website directly from a link on Facebook for example. So far our figures have been promising, with the investment into social media being abundantly rewarded by the increase in online sales.
All too often agencies are pulled in for piecemeal projects and therefore it can be hard to establish a proper understanding of the full impact that one marketing channel has on another. As more of our clients begin to invest in social media we’re hoping to become increasingly involved in similar relationships to the one described above, where we can accurately monitor the effects of social media activity and increase our chances of achieving a high ROI within social media.
This infographic (created by MDG) includes the metrics other CMOs use to measure social media ROI. The section on Increasing Social Media Marketing Spend is interesting, it would be useful if there was a bit more information though, such as the % increase compared with previous years and how that translates into monetary terms.
It would also be beneficial to know which specific social media platforms had been successful in recruiting. We have used Facebook, Twitter and LinkedIn for recruitment, and have had reasonable success with both LinkedIn and Twitter which were both free whereas we had no luck using Facebook ads which were at a cost per click.