While there is still no precise way of measuring the positive effects of social media
in your business, especially in monetary amounts, there are a number of ways you can measure if social media use brings positive results for your business. Sometimes it is not enough that you know there are a handful of loyal customers that are interacting with you online, you need to make sure that the benefits you gain from using social media are worth the effort you put into them. Here are some of the ways you can measure the positive effects of social media for your business:
Check how many people from your social network gets drawn to visit your website- there are tools that will help you determine where people that visited your site came from. You can use these tools to determine how people found your website. You will see if the visitors of your website came from your Facebook page, Twitter account or other social media account. Make sure you also monitor how long these visitors stay in your website. Did they just stumble on your website through your social network account and actually stay long enough to buy a product from you.
Check if people are retweeting and reposting your messages- the more people are spreading your messages online, the more benefits you can gain from using the social networks. Check what campaigns, materials and social networks make your marketing message go viral. Going viral is a very cost-efficient and effective way to get your marketing message spread like wildfire.
Check income generated from social media activities- this can be done if your website is really an interactive website that allows people to buy or subscribe products or services from you. You can monitor how many visitors that came from your social accounts actually ended up purchasing from you. You can check if a visitor that came from your Twitter stayed for a minute or stayed to make a purchase.
Monitor how often your brand name gets mentioned in social media- you should also monitor if people are saying positive things about your business. The more people are talking about your company or your products online, then the more free exposure you get.
Check if people are developing loyalty to your brand- check if your clients are interacting with you repeatedly and see if they have positive interactions with your business.