The Tools for Measuring Success

It is a given that social media holds the power to enhance a business’ or organization’s brand.  The power of the social media provides infinite outreach potential, especially with the availability of free advertising, monitoring, and measuring. Whether the target audience is local, national, or global, a business should monitor and measure the activity on each of its platforms and evaluate its effectiveness on the company’s return on investment.

Monitoring social media requires listening to the consumers and what they are saying about the company. This includes engaging with them by keeping up-to-date on posts, comments, tweets, and the like.

Measuring the effects of a company’s social media efforts requires utilization of resources that can quantify each platform’s activity, separately and collectively. These tools can pinpoint the sources of advertising success by analyzing data and quantifying the ROI.

South Fork Electric currently depends on word of mouth, referrals, and old-fashioned advertising. We determined that it was necessary for the business to have a share of voice in the world of electrical contractors. Creating a website alone, would increase the brand awareness by 50%. There are plenty of monitoring tools that are FREE to utilize, so an investment is not necessary to measure social media values. His business is small enough that he could measure his ROI just by asking customers how they heard about him, i.e. referral, website, truck labels, or via a business card hanging at a local business. In addition, he could ask his customers for referrals or encourage them to add comments and reviews to his page or site.

However, as the business grows, measuring ROI via an analytics tool will be more efficient and savvy. As I look ahead, Hootsuite can monitor a handful of platforms, such as Facebook, LinkedIn, and Google Plus. Hootsuite will send weekly analytics reports with his social media standings. If his Google account is seeing more activity, he can focus on engaging with visitors or posting electrical tips. With a business Facebook page, he can also utilize Facebook’s Page Insights to track connections, demographics of the audience, and click-through-rates.  In addition to his website, posting pictures of “before and after” jobs may keep the audience in touch a little longer.

This small business doesn’t need to spread itself too thin by jumping into every social media channel. Simple, easy access to his business is ideal, in my brother’s neck of the woods. There is always the possibility of relocation. As a service business, he can take his tools, email, phone, website, and social media accounts with him. At that point, we would need to reevaluate his platforms, as well as his tools for monitoring and measuring the business. Oh, the places he could go!

Images courtesy of:

http://www.lancescoular.com

http://www.virtualsocialmedia.com/?attachment_id=3372

http://cliqology.com/2011/05/12-metrics-used-for-measuring-social-media-marketing-impact/

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1 Comment

  1. I know I just copied a huge chunk of your content, however the post is excellent — the your critical thought process is spot on with determining and monitoring our ROI.

    I am very impressed with the following:

    “As I look ahead, Hootsuite can monitor a handful of platforms, such as Facebook, LinkedIn, and Google Plus. Hootsuite will send weekly analytics reports with his social media standings. If his Google account is seeing more activity, he can focus on engaging with visitors or posting electrical tips. With a business Facebook page, he can also utilize Facebook’s Page Insights to track connections, demographics of the audience, and click-through-rates.”

    Spot on! Great job!

    Like

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