A common headache that I hear all the time is wondering how to measure the ROI of social media efforts.
In a recent survey, measuring ROI was the top social media challenge of marketers.
Social media is great for connecting with potential customers and making sales…but it takes quite a bit of time.
…how do we know that we are getting our return on investment?
…that this is where we should be focusing?
Jab Jab Jab Right Hook
In Gary Vaynerchuk’s book “Jab Jab Jab Right Hook”, Gary talks about giving 3x more value than what you ask for. So for every 3 valuable posts, you would have 1 post asking them to take action. 3:1 is not a magic formula, you need to find your own stride.
But what this allows you to do is build a relationship and also make sales in tandem.
Today I am going to show you unique ways to make and track more ROI from all of your social media efforts.
3 Ways to Boost Social Media ROI
Link to Squeeze Pages
Most dealerships we see never post with a link to engage further in the relationship on social media.
They just want “the likes”.
But those don’t easily show ROI.
Squeeze pages are designed to offer visitors something valuable for free in exchange for their email address.
This allows you to direct your audience to take a specific action with you, whether it be to grab a free download, RSVP for an event at your dealership, etc.
Tip: Use the thank you page as an opportunity for them to take the next step with you. Ie. purchase: special offer, event invite.
Example: 100 people click on the link on your post, 30 of them fill out the page, 10 of those purchase from the thank you page or your store.
“Success is in the follow up”. We have all heard it before.
For the people that don’t purchase, you can keep them in lists, preferably segmented email lists.
You can put them in automated follow up emails campaigns that help them get from one stage to another of the Buyer’s Journey
When these shoppers eventually buy you can point back to them coming into your list via social media.
Tracking ROI: By seeing how many people we get on our mailing list or taking a specific action, and then seeing how many sales come from those, we can see exactly how much ROI we are getting from our social media efforts.
Adding UTM Links
Whenever you are using a link on social media, you should be using utm tags to see which site events(form fills etc) are because of social media.
See how many leads, purchases etc were made from each post. This could be as simple as checking Google Analytics at the end of the month and checking how many “events” were tracked in different campaigns. Your UTM campaign results are in Acquisition > Campaigns and look something like this:
Social Selling is where salesman use their own social media profiles to build trust and credibility with their own prospects.
For example, if you RV, post pictures of you RVing. You could also add a post once a month about an RV on the lot and why, etc.
Show your prospecrs that you are interested in the lifestyle, not just selling.
You are now ready to make more and see more ROI from social media.