See the full Storify recap here!
“ROI” means “Return on Investment. Calculated by direct impact and influence on sales volume, revenue and cost deflection.” via @nichole_kelly
Getting started in tracking ROI: 10 expert tips
Tips from Nichole:
- “Start tagging your links to get data into web analytics. Use hidden fields to pass data through forms to get it into CRM.”
- “ROI may not be the “best” measurement for social, but we can’t avoid it if we want to get bigger budgets.”
- “Social tends to start the relationship while traditional marketing tends to convert it.”
- “If you are measuring with last touch attribution you may be missing 95% of social’s influence on ROI”
- “Last touch attribution is social media’s nemesis. Understand your attribution model.”
- “Start using control group analysis to understand social’s influence on biz metrics. Social users vs. non-social users.”
- “Remember that you can’t measure ROI in a “social” tool. It can only be measured in reports from CRM.”
- “The number 1 thing you can do immediately is track your links. Start doing it. It’s game changing.”
Tools to track ROI:
- Google Analytics
- Google URL Builder
- Sprout Social
- LikeAlyzer (Facebook)
- Twitonomy (Twitter)
- Lead Social (Facebook)
- Facebook Insights
- Gmail & Rapportive
- Sum all
- Tailwind App (Pinterest)
Final thoughts on ROI and marketing:
More words of wisdom from Nichole:“ROI is the most important skill a marketer can develop to advance their career.”“CEO’s don’t trust us. 69% of CEOs have stopped enforcing key business objectives on marketers. -Fournaise Report”“20% of CEO’s consider their marketers to be ROI marketers who could go onto senior management. Fournaise Report”
Huge thank-you to Nichole Kelly for all her great insights!
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