Making the Most of Social Media Analytics
Don’t believe the next social media expert who tells you “social media is intangible” when it comes to building your brand. Sure, it’s difficult to calculate a precise return on investment for social media marketing efforts: Just ask General Motors, which pulled $10 million in Facebookadvertising last month because it couldn’t track measurable results. But social media reach is more measurable than some people would have you believe.
“Obviously this is a very new space so there isn’t one established way to think about it,” said Linus Chou of Google Analytics in a presentation at BlogWorld & New Media Expo in New York City this week.
The impact of social media is harder to measure than, say, the effectiveness of banner ads, because social media are often used to build brand loyalty. A person may see an ad or promoted social media message but choose not to click through, then search for the product later, and finally make a purchase on a third, fourth or fifth visit to the company’s website. While social media didn’t have a direct hand in the click-through and sale, it did have a hand in how the brand made a conversion. – Making the Most of Social Media Analytics by Dave Copeland