How to Measure Leads Through Social Media

Every day, your customers are active on a huge range of channels, including social media. If you’re not present and engaging with them across all of these social media platforms… it’s killing your reputation, lead generation, and your bottom line.

How you define a quality “lead” depends on your industry, campaign, and goals. Generally speaking, a quality lead will include useful information and clear signs of intent to engage with your business.

Social media is now the preferred business contact platform. Use this to your advantage by actively engaging with (and converting) prospects and customers on all modern channels such as Twitter, Instagram, Facebook, LinkedIn, Pinterest, and Reddit. If you’re collecting social media leads, you need to be collecting analytics insights. Whether it’s product sales or new client and services type leads. How do you measure it coming from social media? Here are a few ways:

  • Google Analytics. Watch and review social media platform traffic (goals) in Google Analytics to track leads on your website. This will allow you to monitor which social media platform is the best source for your business. If you notice, for example, that Twitter outperforms Facebook, it may be worth redoubling efforts on that platform.
  • Social analytics tools. Tools such as Keyhole, Sprout Social, and Hootsuite also allow you to identify the type of creative and messaging (posts) that performs best. Most of these tools offer easy-to-review dashboards that offer metrics such as the number of impressions, reach, posts, and engagements that certain accounts or hashtags you are getting from each individual platform.
  • Engagement. Engagement is one of the most valuable metrics in measuring social media lead generation. You need to evaluate if you’re engaging with the right audience, how they are interacting with your brand, and what they are doing to engage with your topic and spread your content. The ideal engagement metrics include the number of likes, comments, shares, and re-tweets.
  • Tracking via a specific social media “discount code” or “social shopping”. Many brands offer customers a discount code in exchange for a product or newsletter sign-up. Discount codes or rewards points encourage customers to make a return visit to your site, and ideally a purchase. If you plan to offer one, have a strategy in place for not just generating leads, but also nurturing and converting them.
  • Social Media Ads metrics. The main metrics include Reach, Impressions, and Click-Through Rate.
  • Link Tracking on Social. Link tracking answers the question – “How did you find us? It involves tracking the number of clicks obtained by specific links on your social media posts. Link tracking is helpful in monitoring if your audience is clicking on links associated with your ads.

The above bullets can help you measure leads coming back through Social Media. In the meantime, what can actually help boost the % Leads using social media? 5 tips are below…

  • Optimize your profile. Your profile should provide the means for customers to contact you, sign up for your newsletter, shop, contact information, YouTube channel, etc. Your profile should always include a “link back” to your business website. Make sure to “Add a link” to your bio.
  • Create clickable content. Without compelling content, you won’t collect leads (clicks). Clickable content includes social media posts. Social Media posts include clickable content such as blog posts, YouTube channel content, and call to action type of content (landing pages) that can be SHARED.
  • Use social lead ads. Call to action ads can be posted on platforms such as Facebook, Instagram, YouTube, Linkedin, etc. Your best-performing Twitter posts can be “boosted” (just like paid ads) across that platform where you can dial in demographics such as gender, age, geography, etc.
  • Share testimonials as social proof. Customer stories and testimonials can give you the social proof you need to acquire new leads. Showcasing how clients have benefited from your products and services to demonstrate your brand value. Add these stories and testimonials to your website.
  • Leverage social media sponsorships. Instead of using paid ads, you could also attract leads from the social media content that your target audience is already consuming. Consider sponsoring shows, content, and YouTube channels that are popular with your target audience.

 

Content Creation Success is Measured Many Ways…

  • Spike in (unique) visitor traffic and page views on a specific content post.
  • The number of Shares, Likes, Pins, ReTweets on Social Media.
  • Media mentions and stories covering your business or firm.
  • Website ranking (SERPs) increase.
  • Time on page (Content). If you’re seeing higher time on page stats, they are […] engaging with your content.
  • Bounce rates. If the success of your site depends on users viewing more than one page (content), a high bounce rate is bad.
  • Conversions. Actual product sales or new clients (example: Financial Services).
  • Geography. Find out where your website visitors are coming from and how many. This helps content marketers optimize for the geographical locations (or geos) that are most important to their business.
  • How are the visitors reading your content? Mobile, Desktop, Tablet data can help (understand) trends and how to optimize your website design.

If you lack the resources for generating content, outsource to an agency or freelancer for help. The basic purpose is to create content and try to post at least 2-3 times per week. Content is scalable and you can add as needed or when more resources become available. Content Marketing is very important!

Content Creation Success Metrics

Besides driving traffic to your website, good content marketing reinforces your brand – your brand becomes a more famous name online as people notice your content and start remarking on it, retweeting it, helping to build you into a household name.

Content Strategy Answers the Question ‘Why’ You’re Publishing Content. Establishing content creation success metrics (KPIs) can determine how your marketing is performing as well as RIO. Below is a list of good basic success metrics for your content creation strategy:

  • Spike in visitor traffic and page views on a specific content post.
  • The number of Shares, Likes, Pins, ReTweets on Social Media.
  • Media mentions and stories covering your business or firm.
  • Website ranking (SERPs) increase.
  • Conversions. Actual product sales or new clients (example: Financial Services).

If you lack the resources for generating content, outsource to an agency or freelancer for help. The basic purpose is to create content and try to post at least 2-3 times per week. Content is scalable and you can add as needed or when more resources become available. Content Marketing is important! Without it, you’re going to struggle to attract the attention you need to collect leads and convert them into sales or clients!

How to Measure (ROI) Social Media Campaigns in 2022

Picture of Analysts

Before starting any Social Media effort you must DEFINE your goals and targets (KPIs). A lot of these KPIs you can track from a CRM like HootSuite, HubSpot, Salesforce, or Sprout Social.

Basic Social Media Campaign KPI’s (Tangible) measurements:

  1. Product sales or qualified leads. New customers acquired. Not included: “converted leads” which are the responsibility of the sales organization or account manager.
  2. Increased revenue, and/or market share.
  3. Content Post CTR (Click-through rate) through Social Media platform.
  4. Site traffic (clicks back to website from a Social platform) or “sessions” by Social Media source

These are just a few basic metrics that you can use to measure your Social Media campaigns. So how do you measure the ever important “non-tangible” Social Media ROI?

  1. The quality of “buzz” or change in sentiment. Think Twitter buzz or the quality/quantity of blog feedback/comments. Develop an in-house engagement metric.
  2. Amount of relevant people handling digital content.
  3. Amount of “followers” or new members after a social media campaign. Not everyone’s social media goals is to sell product. Could be a branding goal or a service type goal.
  4. ReTweets
  5. Impressions
  6. Likes
  7. Connections

In the end, Social Media campaign goals must lead to increased revenue, SEO rankings (Google, and Bing are using “social signals” to help them rank), leads, branding/loyalty, or better service. It’s easy to present the tangible information to your boss or client. Make sure the non-tangible information is measured as well.

Financial Advisors: ROI Metrics for Social Media

Picture of Analysts

One of the barriers to Social Media marketing investment is the insufficient metrics to measure the impact. That said, I have compiled a quick list of ROI metrics for Social Media. Use them in your campaigns or use them to convince management to make that resource marketing investment.

  1. Clicks
  2. Likes
  3. Comments
  4. Shares
  5. Followers
  6. Connections
  7. Friends/Fans
  8. ReTweets
  9. Impressions
  10. Reach
  11. Audience engagement rate
  12. Organic mentions, like @mentions
  13. Site traffic (clicks back to website from a Social platform) or “sessions” by Social Media source

Take a look at the above metrics. Does your leads or new client acquisition correlate with the metric data? Keeping track of the data will give you an idea of whats working and whats not working in your Social Media strategy. Metrics are important because they tell if you a campaign or marketing strategy is successful over time.

How to Measure (ROI) Non-Tangible Social Media Campaigns

Before starting any Social Media effort you must DEFINE your goals and targets.

Basic Social Media Campaign KPI’s (Tangible) measurements:

1. Product sales or qualified leads. New customers acquired. Not included: “converted leads” which are the responsibility of the sales organization or account manager.
2. Increased SERP ranking.
3. Increased revenue, and/or market share.
4. CTR (Click-through rate), etc.

These are just a few basic metrics that you can use to measure your Social Media campaigns. So how do you measure the ever important “non-tangible” Social Media ROI?

1. The quality of “buzz” or change in sentiment. Think Twitter buzz or the quality/quantity of blog feedback/comments. Develop an in-house engagement metric.
2. Amount of relevant people handling digital content.
3. Amount of “followers” or new members after a social media campaign. Not everyone’s social media goals is to sell product. Could be a branding goal or a service type goal.

In the end, Social Media campaign goals must lead to increased revenue, SERP rankings, leads, branding/loyalty, or better service. It’s easy to present the tangible information to your boss or client. Make sure the non-tangible information is measured as well.