Scale Your Business eBook
Build A Crowd And Convert Them Into Paying Clients
Social media is an incredibly powerful and free tool that businesses of all sizes can use to their advantage. From building a reputable brand to engaging with customers. With over 420 million people actively using social media, there’s no denying its importance. Especially when 54% of those active users are browsing to buy. The stats certainly speak for themselves but how do you measure the impact of social media on your business?
Getting across the importance of social media and measuring its positive impact on your business can feel tricky to navigate. Especially if you don’t have the knowledge. But, there’s no disputing its value. In fact, “52% surveyed in the recent Smart Insights and Clutch Social Media report confirmed that social media has positively influenced their revenue and sales with Facebook and Linkedin providing the highest value for businesses”.
If you’re unsure of where to begin with measuring the impact of social media on your business then look no further. We have listed 3 ways listed below to help get you started:
This is a great starting point when measuring content engagement and you should begin with:
Social media platforms offer your customers the opportunity to buy, through shoppable links or by directing to your website or landing page. An easy to keep up with how well these features are performing is by checking the:
If this sounds like lots of variables to consider and a little overwhelming, then this simpler formula is for you.
You can add up all the resources that you have chosen to invest in your social media content, from tools and ads to memberships. Then, you can calculate the total sales that have come with social media visitors. If it’s sounding a little mathematical stay with us! You simply divide the sales by investment and multiply by 100 to equal your social media return on investment as a percentage. You’re aiming for anything over 100 per cent for it to be considered a positive.
By using these measurements and techniques you are able to determine how well your social media initiatives are working and whether they’re having a positive impact on your business. This is why it’s so important to make these measurements and continue to make adjustments based on your findings. This way you can reassess your goals and realign your campaign depending on what it is you’re aiming to achieve.
Following the above points and continuing to spend time on your business social media analysis will soon show a return. Yielding the results needed to continue to grow your company.
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Build A Crowd And Convert Them Into Paying Clients