Written by 5ivecanons Staff
How is it possible to track social media’s ROI? How do you value the cost of impressions, reach and clicks that convert into a transaction?
When a properly researched and conducted social media campaign is launched, it is optimized to reach a specific consumer and demographic which results in a high return on investment (ROI). There are few Jacksonville advertising agencies that can quantify conversion rates and present data to business owners looking to increase their market share and ROI.
Specialized advertising agencies can generate bits of code for your website specific to each platform you use. This makes it is easy to track your social campaigns, and see which venues have yielded the highest conversion rate. This is essential because popular social media platforms such as Facebook allow users to promote new products to a desirable target market.
However, many times simply creating an offer is not enough to generate traffic or awareness of your product or service. A strategy is essential and integrated campaigns are a great way to get your consumers engaged. Once your target group is engaged, the offer is presented and you will see a higher conversion rate.
Conversion rate is the percentage of people that not only claim the offer, but also follow through and purchase your product or service. Over 42 million users have claimed offers from companies advertising on Facebook.
Consumer engagement agencies specialize in tracking and narrowing target market demographics. When social media campaigns are carefully planned using a number of different analytic tools, the ROI from advertising can be very successful.
By counting relevant user actions, business owners can easily see their ROI on social media campaigns. Conversion measurements can include registering as a new user on your website, or purchasing your product or service.
This measurement can be traced back to the original social media advertisement. This method allows business owners to see who is purchasing their product, and better understand which demographic to target in their next campaign.
When conversion measurement is used, it can reduce the cost per conversion by 40 percent
Analytic tools allow companies to see where traffic to their website is derived from. This can be social media sites like Facebook, Twitter, or Pinterest, or search engines like Google or Bing.
Traffic is key to running a successful e-commerce website. If consumers aren’t going to your website, there is no chance of them purchasing your product or service. Knowing where traffic comes from shows companies where their marketing budget is best spent.
According to Facebook, the online retailer Fab.com was able to reduce its cost per new customer acquisition by 39 percent when it used conversion measurement and optimization to serve ads to consumers deemed most likely to convert.
5ivecanons consumer engagement agency specializes in social media advertising campaigns. We guarantee your business will see increased traffic to your website and a high ROI for your marketing budget.
We present monthly reporting data to each of our clients. This data includes consumer engagement statistics, website analytics, demographics of customers, conversion rates and more.
Contact us today to schedule an appointment to discuss your advertising needs.