Have you ever planted a seed in expectation of growing a wonderful flower or tomato? Yeah, I’m betting you have. Since the dawn of time, educational facilities have required children with no knowledge or desire of agriculture to plant and grow things.
Well, since we’ve established that you understand how planting a seed and watching for growth works, I’m going to assume that you know the general truth of not planting a seed and then never attending or checking on it ever again. You could plant a seed and then just leave and assume everything grows according to plan, but that would be stupid.
You’re not stupid are you? Then you wouldn’t even dream of setting up a Social CRM or social media strategy within your firm without setting up the proper measurement tools, I’m sure. You also wouldn’t be confused about what to measure, since that would be like planting a seed and then checking the dryer lint levels once a week to make sure the seed’s growth is progressing.
Almost everything in social media can be measured, but here’s a list a thing you should make sure you’re keeping an eye on if you want sales numbers to increase.
True CRMs are built around the base of leads seeing as how leads by their very nature “lead” to sales. Whether you’re in B2B, B2C or some weird variant of the two, leads are key aspects to growing business. It’s the job of your marketing or creative department to create content that drives people to landing pages and into sales funnels, but it’s the job of your CRM to track how those leads accumulate.
It’s good to understand how many leads are coming in, but it’s even better to know which channels which leads prefer and how each group converts once they get into your digital funnels. Which offers work best on which platforms to which demographics? Which groups tend to convert earlier in the funnel than others? Make sure you have a deep understanding of the leads that come in and how they affect your bottom line. It’s important.
(It should go without saying that if you’re tracking leads and sales via social channels, you should also be tracking conversations, so I won’t even mention it.)
2) Following Growth
Numbers are important to any sales cycle. One important truth to any sales process is that “numbers are important.” Let me clarify, I’m not talking about using that phrase to justify cold calling everyone in the phone book in hopes of tripping over a sale. I’m talking about systematically gathering a collection of qualified, interested potentials that can enter your sales cycle via social media channels.
This isn’t a number to lose sleep over. It comes second in the list because it needs to be taken in account with those followers that become leads and eventually sales, but to do that, you must measure it. This can be accomplished with almost and set of analytics tools available or simply creating an Excel sheet and visiting each social network per week.
Always tie the metric of followers to conversions in order to gain a better understanding of their importance.
3) ROI (Return on Investment)
This one should also be self-explanatory. You have to understand what you’re getting in return for your efforts in the social space. This will come from subtracting your investment of money and time from what you gain in return for those efforts. In order to do this best, refer to the formula we’ve outlined on here before.
Put time into this task by running a few campaigns lasting at least a month or two and use those numbers to pull into the equation. Use your findings to be able to evaluate the cost-effectiveness of your efforts against other marketing and lead gen functions within your organization.
Analytics are important for many reasons but one of the best is pure knowledge and understanding and as Petyr Baelish from Game of Thrones says, “knowledge is power.” Start granting yourself power in your own business and watch those seeds you plant grow into the fruit that will sustain your brand for years to come.
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