Managers are often left wondering about the impact social media sources of web traffic such as Facebook, Twitter, Pinterest, and others. They question whether the money, time, and energy given to their businesses’ Facebook and Twitter pages is translating into conversions. This post covers how to read social media analytics and determine ROI.
Social Media Sources: Where Are They Listed?
A website that generates leads should have an analytics program in place, no question. Knowing how, where, and why people are visiting and converting on a website helps managers predict target audiences and cater to them with specific marketing campaigns, advertising, and more. An analytics program such as Google Analytics or Hubspot will provide the web manager with a list of referrers to the converting website. In other words, a manager that logs into one of these softwares will see a list of websites that have linked to – or referred – the converting site. For example, a referrer for Coca-Cola’s official website might be Coca-Cola’s Facebook page, meaning that a visitor on the Coca-Cola Facebook page clicked on a link to Coca-Cola’s official website. Below is an example of a Google Analytics list of referring sites.
Some analytics softwares separate social media referrers from other referring websites. Examples of social media referrals include:
• A Facebook user seeing a link to the converting website within a Facebook status update or ad, and clicking on it
• A Twitter user clicking on a link to the converting website from a Tweet
• A YouTube user clicking on a link to the converting website from the company YouTube channel
• A LinkedIn user clicking on a link to the converting website from an activity update, company profile, personal profile, or discussion post
• A Pinterest user clicking on a “pinned” image that links to the converting website
Social Media Sources: Are They Converting into Leads?
With an analytics tool like Hubspot, managers can track visitors that have arrived through a social media channel to see if they actually become leads.
If multiple leads are coming in from a certain social media platform, managers can focus their attention on campaigns for these channels. In the same vein, they can steer their efforts away from referrers that are not resulting in leads. Thus, tracking these social media sources helps businesses better measure their return on investments.