Is your financial input greater than your output?
In this blog series we are looking at four social media metrics that work for B2B companies. We’ve covered the first three: 1) consumption metrics, or how users engage with your content; 2) sharing metrics, or how often users share your content with others; and 3) lead generation metrics, or social media consumers turned into live leads. The last metric we’ll cover is the sales metric.
When it comes to the bottom line, sales metrics are king. They track how often “social media consumers” turn into actual customers. Put these statistics on the front line when anyone in your organization asks, “what is this social media marketing campaign actually getting us?”
Using a customer or prospect database like SugarCRM, Salesforce.com or Base CRM will allow you to track which pieces of content a prospect consumes. When your sales team converts that prospect to a customer, you can determine the projected revenue and profit of that customer and assign a dollar value to the social media elements that contributed to the sale.
As with lead generation metrics, over time your analytics tools will reveal patterns in the sales metrics. This will give you a clear picture of which types of content are driving the most revenue. If you find content that isn’t working, it’s time to nix it and maybe re-think your social media content marketing strategy.
To learn more about how to build social media campaigns that make sense for B2B, check out our parathink briefing Social Media Marketing & Analytics for B2B. Click here to get your copy now.
Want to talk about building a smarter social media strategy for your organization — or anything else that’s on your mind? Set up a 30-minute strategy session with us by clicking here.
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