Using social media for lead generation is an absolute must, but the problem is that many marketers have no idea how to track a return on investment (ROI) of their efforts. How should you think about tracking ROI and what should you track? Check out this list of social media metrics to help you get started:
Number of followers or friends: A good indicator of how your social channels are performing is your number of followers or friends. Are those numbers trending up or down? How many new followers are you attracting each week, month, and year?
On social channels: How often are your followers engaging with you on social channels? How many retweets are you getting? How many comments? How many Likes? How many clicks? Make sure you are watching the trends. By closely tracking these metrics, you can start to determine what type of content is working best on what channel.
Conversion rates: This is a big one. Track how many people who visit you on social channels turn into leads. You can track this by ensuring that every offer you put out on social channels links to a form. You can add tracking codes to each landing page through your marketing automation software so you know which leads came from social campaigns.
Buzz indicators: There are many social buzz indicators, such as People Talking About This on Facebook and other insights. Each social channel has its own unique buzz indicators, so make sure you are tracking these.
Traffic: How much traffic comes to your website from social channels? You can track this through Google Analytics or your marketing automation tool.
