How to analyse the effectiveness of your social media marketing strategy
Startups investigates the different analytical tools available to help you measure results
With the rise of social media, it is easy for companies to lose track of how effective the various platforms are in boosting their business. Even with an impressive list of followers on Facebook, for example, a company may not easily know how many of these followers or fans have actually bought their product or service. For measuring the quantitative effects of social media on your business, for example to analyse traffic, sales and search engine optimisation (SEO) ranking, there are a variety of analytical tools for companies to use.
Google Analytics is a programme that measures everything from where followers have come from, to whether they have actually bought the product or service from the business. They can also help you analyse your company’s blog traffic and keyword optimisation, as well as other additional trends.
There are also several websites where you can type in a URL and then receive lots of useful statistics about your particular website, for example figures about search engine optimisation (SEO) and social bookmarking. Xinu is a helpful website that offers this service.
Some social networking sites have several developer tools, such as Facebook Connect, that enables companies to link their Facebook discussions to their websites, making it easier to track the activity of their followers. Danny Bluestone from Cyber-Duck explains that Facebook Connect can help to lead people to your website, which can then capture potential orders or business interest.
It is clear that social media can boost a company’s public profile, and greater interaction and discussion about your business can only be a positive thing. However, Greg Banbury believes the industry lacks an application by which enterprises can analyse the long-term effects and results of their social media platforms on their business, suggesting that the full-extent of their ability to market a company can never be fully analysed. Hence, with social media there is reduced visibility.
Nevertheless, the transparency of social media is improving all the time. At the Twitter Ecosystem Roundtable, JC Mighty from Aurora explains that the ability to quantify the effect of social media on your business continues to progress. He says: “We can definitely measure campaigns within it, so for example, if someone responds to a discount offer on Twitter it would be given a unique code, then when that transaction takes place on an ecommerce platform, we know that they purchased it through that channel.”
Some useful analytical tools: