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posted on:
6/20/2012 5:26:53 PM EST
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Struggling to Measure the Value of Social Media
Social Media
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Adobe examined the oft-discussed issue of how exactly to quantify the value of social media. What they found was that when it comes to measuring the ROI of social media, most marketers are using all the wrong tools. In fact, the vast majority of marketers included in their study of 225 companies relied exclusively on last-click attribution to measure the success of their social efforts.
Last-click (aka last-touch) attribution is the form of tracking that most analytics tools like Google Analytics employ. It’s called last-click attribution because conversions are measured based on the most recent channel that brought a visitor in before they converted. Think of it like giving your most recent date credit for leading to your engagement rather than your first date.
The problem with measuring social media through last-click attribution is that social channels tend to engage people at the top of the sales funnel rather than right before they buy. Think about it ... when was the last time you bought something immediately after clicking through a Twitter or Facebook link? That’s not how it typically works, right? Most customers discover companies through social media, then take some time to get to know their products or services -- subscribing to emails or returning again through another channel.
So what should you be measuring to get a better understanding of the role social media plays in your business, and how do you measure it? Start by asking yourself these questions, and using these measurements, to stop the struggle around social media ROI measurement.
Is social media working to bring in customers?
What You’ll Need: First-Touch Analytics
Just as the Adobe report suggests, the most comprehensive way to determine whether your social channels have brought leads and customers into your fold is through first-touch analytics. In fact, in comparing the two methods, the study valued social media visits measured through first-touch attribution to be nearly twice as high as when measured through more commonly used means
Read more: blog.hubspot.com/blog/tabid/6307/bid/33300/Why-You-re-Struggling-to-Measure-the-Value-of-Social-Media.aspx#ixzz1yN49oWZU
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 | | Great blog Taquee. Social Media marketing is definitely something everyone should be doing. |
| | |  | | Great blogpost.If you don't value the power of social media, then you might have lived on the moon. Thanks for sharing. |
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