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I am so very tired of hearing that social media is not trackable. This is simply not true. Whenever you post a link to your own site, whether it's to highlight products, news, events, etc you should track the inbound data.
Because Google Analytics is so readily available, I will use this program as an example and provide instructions how to measure inbound links to your site using Facebook.
The easiest way to create a link that is trackable via Google Analytics is to visit Google's URL Builder page and fill in the various spaces. I would advise being consistent for all of your posted links that you track. Otherwise, you will have a difficult time measuring your various web campaigns effectively.
Follow these Steps:
Step 1:
- Enter in the URL for the page you wish to share
Step 2:
- Enter in the place where this link will be shared (in this particular instance, I chose "Facebook")
- Enter in a "Campaign Medium". This will be the type of data that is being shared (in this particular instance, I chose "Text Link")
- Enter in a "Campaign Name." What is this link? How would you identify it easily within Google?
Step 3:
Step 4:
- Many social media sites (including Facebook, although it is more generous at 421 chars) offering "Status Updates" require character limits on any posts. Therefore consider shortening your URLs with a "Short URL" app. Depending on where I am posting my update, I typically use Twitpwr.com or tinyurl.com.
- Copy your "Short URL"
Step 5:
- Paste the link onto your social media page.Viola, that's it!
The following day (again assuming you used Google Analytics to track your metrics), log in and go to "Traffic Sources" > "Campaigns". Mid-way down the page, look for the "Dimension" drop down menu. You can cycle through various filters such as "Source", "Campaign", "Medium" as well as other dimensions.
Labels: Facebook, Link Tracking, social media, web analytics
Obviously social media sites like Facebook, MySpace and LinkedIn are newcomers to the online marketing world. Their core focus is clearly evolving. Being that they are so new, it is easy to understand that most marketers are simply not experienced in marketing to these type of communities.
Unlike web analytic software (Google Analytics, ClickTracks, Omniture, etc) there is currently no widely accepted standard dashboard in existence that is able to monitor all forms of social media and in effect determine ROI. This process is left almost entirely to the marketer. There are many attempts to monitor conversations and measure overall buzz (Buzzlogic, TruCast). I have spoken with and demo'd the material of these two firms and they both measure conversations fairly well.
It seems to me that in order to measure success and inevitably ROI, you need to first establish your own objectives and determine which KPI's you wish to follow. I think it’s reasonable to believe that without indicators such as revenue growth and conversion metrics it is hard to determine overall ROI.
In the business world, ROI is typically determined by taking the amount of the total investment and dividing that by the amount of the return. Since social media marketing is based almost entirely on trust and dialogue, how can you measure this?
I believe that the metrics used in calculating the success of a social media marketing campaign area going to be unique. In short, a focus on lead generation and driving sales is going to have a different set of ideal metrics than a general focus on user engagement.
I am finding out in my own research, there are several ways to determine an individual's likelihood that they are providing influence to others - a common determinant in the success of a social media marketing campaign.
Metrics to consider: Do they have a blog? How many posts are within this blog? Do they have social network profiles? How many 'friends' do they have? How long have they been a member of a particular social network? How long has it been since their last login? Additionally, what kind of digital footprint are they leaving across the web?
Again, certain campaigns are going to follow a different set of parameters though it's a starting point.Labels: Buzzlogic, ClickTracks, Facebook, Google Analytics, KPI, LinkedIn, MySpace, Omniture, ROI, social media, TruCast, web marketing
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