November '20

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16 THE SHOP NOVEMBER 2020 Know how to track your ROI using analytics If you don't already have a traffic tracker set up on your website, what are you waiting for? This is one of the easiest ways to view your website traffic, where it came from and which pages on your website had a greater increase in visitors than others. Most social media sites offer their own programs to maximize your advertising spend with them, enabling you to pay only for when someone clicks through to your site. RETURN ON INFLUENCE While your return on investment is very matter-of-fact and measurable, this is not always the case with return on influence. Influence is categorized by the social media engagement factors that have a robust effect in terms of business visibility and a knock-on effect in generating leads, sales and awareness. Return on influence, while it may not be transparently measurable in dollars, has a direct effect on the overall marketing campaign. Know your measurements & what they mean When measuring your level of influence, there is not a fancy equation that will help you deliver the ideal metric. Each business has its own needs and its own unique focus. Is it important for you to have a high number of people connected to your web profiles? Then the size of your audience will be something that you will want to measure and track. Are you looking to get your audience actively engaged with your content? Then you'll want to track likes, comments, reac- tions and shares. Want to use social media links as calls to action to visit your website? Then you need to track the amount of traffic that you are generating via each platform. Tell your story in real time One of the largest influence returns you can get comes from telling your brand's story, in real time, while you gauge and measure engagement. Social media marketing is a beautiful com- plement and extension to a well-executed public relations campaign. Meaning, you can really tell your brand's story fully, without being hampered by deadlines, timing, con- tent lengths, restrictions and more. You are able to comment in real-time on anything that is happening in the universe that you can tie in to your brand. This shows that you are available, have a finger on the pulse and are trustworthy. Who do people do business with? Those that they trust. Position yourself as an expert Your social media channels are an extension of your online presence. Consider them more interactive versions of your website or online point of sale. Here, you are not just making claims, you are substantiating your business. You can craft and share content that helps bring your target audience closer to you. Show- case how your product/service/business solves a problem they face. Each of your social media channels acts as a branding and expertise hub where you can illustrate to your audience the value that you and your brand bring to the table and why they need to be interested. Having these authentic communications in real time offers positioning like nothing else. ROI + ROI While return on investment focuses on measurable goals, return on influence is about the results you gain from having a presence on social media, and, of course, what your business does with it. As you continue your marketing journey, look further into how both ROIs can be factored into your strategy, and how you can reap the benefits. Measuring your results from both mon- etary and influence standpoints will only help your business grow. CHRISTOPHER TOMPKINS is founder, head strategist and CEO of The Go! Agency. A fun- damental believer in online marketing education, Christo- pher speaks at national and international conferences. His latest book, The Go Method: 22 Simple Steps to Creating a Social Media Strategy That Works!, is now available at Measuring your results from both monetary and influence standpoints will only help your business grow. Measuring Your Marketing

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