Marketing Analytics to Measure Social Media ROI

The return on investment (ROI) of social media, can be determined with marketing analytics. Measure the Social media ROI isn’t easy, but It’s a very important thing to ensure the approval of new budgets of new programs to the management teams. In other words, if there weren’t marketing analytics to determine statistics about the effectiveness of social media, companies wouldn’t be sure to invest money there.

These statistics are often more related with Public relations than with marketing, but as social media are a form of marketing, we can say marketing analytics as the way to extract useful data to determine the effectiveness of the campaign.

There Isn’t any standard on marketing analytics to measure social media ROI, there are many different criteria to determine whether a social media campaign is effective or not. Sometimes, people sends a tweet and increases $250.000 in sales, and the executives of the company are very happy with the results, but sometimes the campaign is just improving the image of the company.

Qualitative Marketing Analytics to measure Social media ROI

First, let’s determine what we want to measure, it can be customer relationships, corporate reputation and whatever is more likely to need a qualitative analysis.

Then, we make questions to decide the main points to study in the marketing analytics, for example:

-Are we forming part of conversations.

-Are we better considered than our competitors.

Then, determine the capability to improve whatever you want to measure

There are companies that offer services to assist with this kind of marketing analytics.

Quantitative Marketing Analytics

Some things can be measured with numbers, and marketing analytics there are more quantitative and based on many free tools we can find around the Internet.

Google Analytics Together with feedburner is a essential tool to know the traffic on your blog, the new trends you are attracting and the engagement of your readers.

AideRSS With this program, you can enter a RSS URL and you will know the popularity of each post according the submissions in social bookmarking sites.

Xinu is a website where you type in a URL and receive a load of useful statistics.

You can also count the followers of your profiles, however you must be careful there because sometimes, a flock of followers can be result of Spam and distort the results of your marketing analytics and your data for the ROI..

Related posts:

1. Best tips on marketing analytics to measure the ROI of your social media campaign (part One)
2. Best tips on marketing analytics to measure the ROI of your social media campaign (part two)
3. How to use a company blog for your branding strategy
4. My first post after killing many viruses on holidays: Direct Monetization of Facebook and Twitter