One of the most difficult tasks that anyone who has worked in marketing is defining what is success, specifically, ROI as a measure of success. Traditionally, ROI has been measured like this:
Return on Investment (%) = (Net Profit / Marketing Costs) x 100
When dealing with traditional marketing methods, this is a clear-cut way of defining success and ROI for your campaigns. If you reading this, my guess is that this doesn’t work for you in social media and you need some answers! Social Media Marketing (SMM) can be tricky, but these tools should help give you an edge and help you steer your campaigns in the right direction.
Google Analytics is an incredibly powerful tool that can allow you to get a better understand of your customers by providing you with loads of data and statistics to help you analyze your visitor traffic and optimize campaigns. Using Google Analytics Campaign Tracking, you can set up tracking links for campaigns with UTM parameters so you can really understand your customers!
Hootsuite has been around as a staple in the social media management and metric tracking since SMM took off. An easy-to-use interface provides users with a dashboard where they can manage and measure multiple social networks. One feature that many people overlook is the ability to work in teams – a huge bonus for anyone who has multiple people working on their accounts. Hootsuite is a great tool for scheduling posts from multiple social media channels as well as giving you the ability to create individual reports.
Facebook Insights is a powerful tool that provides all the analytic data for your Facebook page. Page Insights gives Page managers a number of aggregate metrics, including the number of people who like their Page, how many people see a post and how many people clicked the post. The insights allow you to understand your audience, what they are reacting to, and adjust your content to meet their needs.
Twitter finally caught up with the rest of the major social media platforms and has released some analytics. With Twitter Analytics, you can track timeline activity, including tweets that were favorited, retweeted, and replied to. Another helpful aspect of this tool is that it tracks the number of mentions, new followers and newly followed. Check out our “Beginners Guide to Twitter Analytics” for a full breakdown.
Bitly is an incredibly powerful tool that is vastly underrated. Most people use bitly to just shorten their urls, but it does so much more! This link shortener allows you track everything you share. This is a great way to see what your audience is interacting with and decide if the content you share is valuable.
Social Mention is a social media search and analysis platform that aggregates user-generated content from across the universe into a single stream of information. It allows you to easily track and measure what people are saying about you, your company, a new product, or any topic across the web’s social media landscape in real-time. Social Mention monitors 100+ social media properties directly including: Twitter, Facebook, FriendFeed, YouTube, Digg, Google etc.