Are you doing the best you can on social media, but don’t know if it is really helping out your peer-to-peer business? You know it’s important to have social media ROI, but aren’t sure how to get it. It is important to set business goals and figure out how social media can reach those goals. Lastly, determine how you can measure the impact of your social media efforts on these goals.                        

Each social media goal should relate to your specific business goals and I have listed some top ones below:

• Brand Awareness: It’s important to stay front and center in people’s minds in order to build brand reputation. If customers don’t know about your brand and what it stands for, your business needs to work on being more influential. When your customers are aware of your brand on social media, they are more likely to recommend it to their friends by liking posts on Facebook and retweeting you on Twitter.

• Increase Website Traffic: Increasing traffic is important to all sites and is crucial if you are selling online. While website traffic should never be the ultimate goal of your website, in order to accomplish other website goals, you must have some traffic. Besides sales opportunities, the more people you have visiting your site, the more chances people have to engage with your blog content, social media, interact with your brand or share your site with friends and followers.
• Website Visitor Retention:  After you increase your website traffic, you want to start measuring how much time they are spending on your site. The longer people are staying on your site, the more chances that they will buy from you. Another very important aspect of visitor loyalty is to understand on average how many visits are required for one of your visitors to convert. A conversion could be a visitor purchasing from your site, signing up for an email newsletter and so on.
• Conversion Rates: It’s important to be able to direct the relationship your social media has with sales. Here at near Me, we use Hubspot to measure our traffic sources, but there are many other easy tools you can  use. One of the most frequently utilized web goals is a visitor converting to a lead captured by entering personal information online. For companies that conduct the majority of their business online, these goals are very important to the organization and are key measures of success.

You should make measuring your social media success a primary focus of your social media marketing efforts. I recommend you measure and monitor your goals on a monthly basis. It is very important to set up a monitoring process that correctly articulates the info you are looking for. By measuring your social media impact, you ensure the best use of your time and resources. Good luck and please let us know how we can help!