Measuring Social Media Company ROI

Return on investment after training and resourcing an Otago Polytechnic teacher how to use social media for open education (Photo credit: Wikipedia)

There are number of factors to measure the ROI of a company. These would be metrics and measurements that can contribute to a company's longevity. These measurement includes but not limited to: reach (# of website visits, relay and #post), relevance (engagement and authority) and outcomes. The outcome is the ROI that can result in exposure, as Jack mentioned, customers satisfaction, increase in leads and sales.

A business that wants to track their ROI from social media should start with a baseline of your company's current growth, website visitors, online transactions, telephone inquiries, etc. If you don't have this information, start tracking it.

Next, create an activity timeline that tracks all new social media projects: blog launches, new Twitter campaigns, press releases, etc., 

By stacking these timelines on top of one another, your company can create a picture of which efforts are working, and which ones aren't. Over several months, you can graph your progress and watch for correlations between events, such as certain blog articles equaling more customer calls, or positive online mentions and a jump in site visitors. 

Keep in mind, though, that another part of a good social media campaign and tracking ROI is having a goal in mind when you start so you know where you want to be. Your goal could be monetary return (more sales), or non-monetary (brand awareness, increase in social media mentions). It's not too late to start tracking your progress so your business will know how your social media efforts are affecting your company.

With social media being a prominent mode to gain popularity, companies streamline their efforts to build an entire presence through twitter, facebook & other popular social media outlets. Talking about ROI, it is indispensable to form parameters before measuring the profits for a company. Hence, business and marketing professionals who embark on the journey of social media should define what they want to achieve from using social media marketing.

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Viral Marketing Improves Online Business Efficiency

Photos on the 1-18-08.com viral marketing website (Photo credit: Wikipedia)

Viral marketing is a promotional strategy that has been in use for quite some time and has transitioned over onto the internet quite successfully. The strength behind this particular advertising technique is in its ability to help businesses spread their marketing message a whole lot faster and with less effort. In this way it helps to not only boost your exposure but also your ability to work much more efficiently as well!

Here are 3 significant ways in which any online business can expect to benefit by using this particular promotional strategy.

Time Efficient

Typically this advertising technique involves little more than sharing your marketing message with a relatively smaller crowd who then spread the word. Working online offers the advantage in many cases of automating your efforts even further resulting in greater savings of time! As any entrepreneur will tell you time is money and therefore a precious commodity that should be used wisely!

Cost Efficient

In most cases advertising in a viral manner online involves distributing free reports or leaving business links at social site, forums, bookmarking sites or even blogging. In every case there is little or no out of pocket expenses making this advertising technique very cost efficient!

Energy Efficient

By leveraging the efforts of others you are able to channel the energy you have saved into other areas of your business. As an entrepreneur this is extremely important since most functions and/or business tasks are left up to you to complete. Avoiding fatigue in this way helps you maintain a mental alertness that can be use in more constructive and creative ways. Your mistakes will be minimized and your ability to produce more and stay motivated will benefit as well!

Remember when fatigue does set in your ambition will naturally decrease and as mentioned above and you will be more prone to making mistakes. What happens here is that not only do your miscues create business inefficiencies but they also require more time and effort later on to fix!

The biggest advantage viral marketing offers a business or person is its ability to leverage the efforts of others to spread your marketing message. When this advertising technique is put to use online the benefits it offers magnify due to the automation and global audience the internet can supply! The single biggest advantage this promotional strategy offers is the increase efficiencies a business can experience as reviewed above. It therefore stands to reason that if you can increase efficiency you will also boost productivity thereby leading to greater sales and profits. With that said there seems to be little reason as to why you would not want to include this very effective promotional strategy into your online marketing mix!

Article Source:
http://www.articlecity.com/articles/marketing/article_6726.shtml

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Facebook: A Marketing Channel Strategies

Facebook Marketing (photo credit: Social Network Asia)

There are various ways to market your product online and social marketing is just one of those. In comparison with other strategies such as article marketing how heavy do you use facebook as one of your strategies to market a product?

Facebook can be a lucrative internet marketing strategy if used effectively. You can't just use one strategy though, and you have to know that Facebook is more of a branding opportunity, and most successful businesses will not use it to sell products directly, but indirectly (if that makes sense).

Why?

Because building a successful online business isn't about using one channel, it's about using multiple internet marketing strategies together. Lately there is so much hype about using Facebook to market products online. This is completely wrong. People are on Facebook to connect with people, not businesses.

The way people use the internet is much different than old school brick and mortar business. It's not selling to users, it's users having the option to make there own decisions...just a click away.

You need to look at marketing on Facebook as permission based and 99.99% of people will not buy products or services if they "like" your business, or friend request you. Top internet marketers will agree that successful online business is not about getting, it's about giving. That principle even holds more true to Facebook marketing. This is a direct channel to provide value to potential customers, free reports, thoughtful information, humorous tidbits of information sometimes seemingly unrelated to your business.

If potential customers see you as not selling, there more likely to look into what you do, consequently resulting in more traffic and more business.

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