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Measuring Social Media Marketing
A recent article published on the Business 2 Community website titled “What Is The Value Of Social Media Engagement?” identifies 14 criteria that were taken into consideration when measuring the success of your social media marketing efforts.
What is most interesting is not the specific breakdown of the survey, but how some measurements are considered to be much more important than other measurements. The fact that some are considered to be much more important is not what’s most interesting to me, it’s which ones are considered to be most (and least) important.
Below is the list, sorted by that which is considered to be the most important.
40.9% – Hits/visits/page views
30.5% – Number of followers or friends
24.9% – Repeat visits
21.1% – Conversions rates (from visitor to buyer)
16.2% – Buzz indicators (web mentions)
Then there is a gap before getting to the next one.
10.2% – Customer acquisition costs
9.8% – Net promoter score (whatever that means).
9.2% – Revenue per customer
And to my surprise, the metric considered the least meaningful was:
2.8% – Abandoned shopping carts
What Does This Tell Us
That social media is perceived to be a “buzz generating” tool rather than a tool for direct sales. This actually falls right in line with the recent Brightedge study showing that while 51% of website visitors arrive via organic search traffic, only 5% show up from a social media site or application.
It reinforces the idea that social media marketing plays a supporting role in your digital marketing efforts, whose role is to generate buzz and encourage people to visit your site.
I would be curious if someone would run a study on how effective social media marketing is in obtaining links to your website. Any big digital marketing agency interested in doing such a study?
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