Online marketing through social media and ad spaces is rapidly evolving. Measuring the actual return on investment can be tricky, but unlike traditional methods of advertising and marketing, you’re able to closely monitor your target demo, and have better tracking methods of actual conversion rates. Not that traditional marketing should be thrown out the window, but it is a lot harder to know what is motivating a potential customer to actually convert to a paying and loyal customer. So whether it’s clicks or impressions you are monitoring, make sure you understand your metrics to measure the results accurately.
Maybe it’s a little Big Brother to be monitoring your key demographics so closely online, but from a marketing perspective, it really helps us do our job much easier.
Measuring Your ROI
Not every company is lucky enough to have a large budget to allocate to social media and online advertising tracking. There are definitely free and low cost platforms that can help you manage your online campaigns. Whether you pony up the bucks to have a robust measurement campaign, or you’re utilizing what free and low cost options there are, you’ll need to understand the metrics to really know if your efforts are successful.
Measuring Your Click Data
Not all online campaigns are the same, nor will they all produce the same results. If your online campaign is based on a click measurement, it may cost a little bit more. Most social media and online marketing sites let you choose whether you want to utilize your budget for clicks or impressions.
So when do you use clicks or impressions for your campaign? If you’re looking at click through data, you also may not have as impressive of a number of eyes on the campaign as with click through. Keep this in mind; just because your target demographic can see your advertising and promotion, doesn’t mean they’re going to act upon it. You may get a million impressions for the same amount as a thousand click throughs.
When you’re using click through online campaigns, have a strong call to action message coupled with something to give away will really help your campaign with click through optimization. If you’re working on a B2B campaign, and you’ve got something you can offer like a free webinar or eBook, use that to get more clicks. This doesn’t mean that you stop posting great content, but this will help give your campaign a boost. Everyone loves freebies, and businesses are no exceptions. It gives them a taste of what you have to offer, how you can help their business and can turn a potential customer into a loyal paying customer.
Social Media Today warns that when you are using clicks as a metric in your marketing campaign that you don’t mistake every click for a conversion. Not all clicks will become a conversion, and often just indicate that there’s an interest. While conversion rates are your ultimate goal, sparking an interest is a very positive thing as well. It lets you know you’re on the right track.
Links for Leads
Using links within your content marketing campaign and online promotions can be very effective. Social media guru Amy Porterfield recommends keeping the links you use within that specific social media website. This means that if you’re using Facebook for advertising and marketing, you should try to keep your links within another Facebook page or event. Not that it’s a bad thing to link to an outside website, but you want to keep you audience within that site and hopefully they’ll discover other content you’ve posted as well.
If you choose to link to an outside source, like your own website, use more than just Google analytics to monitor your click throughs. If you really want to use social media and online marketing to the best of its ability, you must watch your conversion traffic. If you are giving something away, of any kind of digital content, you need to know how many downloads rather than the simple number of clicks it generated.
Use Your Time Wisely
The single best reason to monitor your social media campaigns through conversion tracking is so you get the most bang for your buck. We all know that you don’t have a lot of time to sit around wondering if all of your efforts are actually working. If you’re going to invest the time and energy, you’ll want to know that it’s worth it. Here’s where the beauty of online and social media marketing come in. Those efforts are trackable in real time. Unlike traditional advertising campaigns, it’s really hard to know if all the time, money and effort spent is resulting in converting simple interest into a real customer.
As if you needed yet one more reason to use conversion tracking in your online campaigns, here’s another one: You don’t want to waste your time chasing customers that may never show more than a little bit of interest. If you’re offering business solutions, LinkedIn campaigns can definitely help connect you to the right business contacts. Even if your campaign on LinkedIn is showing a high volume of clicks, it doesn’t mean they’re converting to real customers. Rather than devote all of your time to just one social avenue, you still need to monitor how your campaign is doing across all platforms. Using conversion tracking is really the only way to do that.
Whether you’ve chosen a campaign of clicks or links, the only real way to know if what you’re doing is effective is to track your conversions. You’ll save a lot of time and money, and really be able to concentrate your efforts where you see the most reward.