Success is important, but knowing how you achieved your goals is just as important. In social media, there are many tools that can be used to help organizations measure their success in terms of hard and soft ROI. Without measuring and monitoring your social media campaign, you will not be able to understand how you are meeting your goals and how they can be met more efficiently. On the other side of the spectrum, if you are not achieving your goals, with an effective monitoring method in place, you may be able to pin point why you are not meeting them.
At World Class Realty LLC I have created social media campaign to boost overall awareness of the business and its services, as well as increase the bottom line. The goal of the campaign is to obtain 1000 connections through our LinkedIn page and have a conversion rate of 5% in the first year of the campaign. Our soft ROI is going to be the connections, likes, page views, and house listing views. It will also consist of connections contacting our agents and setting up showings. Our hard ROI is going to be the actual dollars that are generated from the increased number of transactions through our social media efforts. But in order to ensure that we are meeting our goals, we must have a way of monitoring our success.
At World Class Realty, we will be using two programs to help us to monitor and measure our soft and hard ROI. The first program we will be using is just basic LinkedIn analytics. LinkedIn offers companies updates on information such as followers and engagement rates. It will show the amount of clicks we will get, and will also offer information on visitors such as demographics. This is going to be important with the efficiency of our content and home listings. We will be able to put the homes on our page that are the most relevant to what our connections like. This will also allow us to keep track of some of our soft ROI such as the likes and number of connections we have. This is all displayed in graphs through LinkedIn analytics to make it easy to read. The second program we will be utilizing is Hootsuite. This program will be useful in measuring our soft ROI in the way that it will tell us how many, who, and when people are looking at our page and home listings. This will further allow us to increase the efficiency and effectiveness of our content. This will help us maximize our hard ROI earnings.
In real estate, every transaction is completed by the signing of a purchase agreement. As far as measuring our hard ROI, we will have a section of the purchase agreement that will state whether or not the buyer or seller’s transaction was a direct result of being a connection with us or visiting World Class Realty’s LinkedIn company page. This will tell us exactly who is coming from our social media efforts and performing a transaction with us.
Having a means of measuring our social media efforts is key to our success. It will allow us to make our social media campaign more effective and efficient. Through these LinkedIn analytics and Hootsuite, we will be sure that our soft ROI and hard ROI goals are being met. It will ensure that we can have our eyes on the prize.
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