08 Jul 5 Terms to Remember When Measuring Your Campaign ROI
It took some time for many of us to believe that social media has a true ROI. Now that we accept this fact, we’re left searching for the right tools and methods to test it. Integrating social media to your business marketing strategies has many benefits such as increasing public relations and enabling customer service. But at the end of the day, B2B campaigns are mainly measured on generated revenue and leads.
In his blog post on social media metrics on Radian6, @DavidBThomas settled the “confusion” surrounding the words: listening, monitoring, measurement, analytics and ROI. It’s important to remember that these buzzwords can also be used to discover the value of marketing campaigns beyond social media. Keep them in mind when measuring your conversion tool campaign ROI too.
Here’s a brief version:
- Listening: is the process of learning what people are saying about you and where.
- Monitoring: adds the 24/7 component to listening and attempts to make sure you capture all relevant mentions.
- Measurement: is the first step toward integrating the results of your social media activities into your larger business processes.
- Analytics: Understanding the analytics of your social media activities is no different than understanding the value of your PR or marketing activities; you have to do the hard work to tie your activities to conversions, whatever that means for your business.
- ROI: in social media is thorny, in part because some people expect it should be easy to track because it’s online. You can, but only if you do the work of building the connections.