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What is the Value of Social Media?

Originally posted: June 14, 2012 by Kenny Eliason. Leave a comment
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Home » Social Media Marketing » What is the Value of Social Media?

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Social Media

In the world of social media, determining it’s value may seem to be an impossible task. So how should you value your social media efforts?

Social media, leads, and sales.

Social media is the ideal place to generate leads, and since leads turn into sales, it is important to know where those sales started. Here are a few simple steps to evaluate how your social media efforts turn into leads on your website:

Step 1: Look at referral traffic share. Where is most of the traffic to your website coming from? Are there some sources that are more popular than others?

Step 2: Focus on the traffic that is specifically coming from social media platforms. Are you getting traffic from social mediums like Facebook and Twitter? Is one more successful than the other? What can you do to increase the traffic from the not-so-successful mediums?

Step 3: Add goals and campaigns to track the full progression from visit to conversion. By using goal and campaigns on your website, you will be able to track the path that converts a lead into a sale. Which page were they on before completing a purchase? Did they read or download any materials from the side before committing?

It may take some time and tinkering to fine-tune your efforts to yield the most useful Social Media tactics, but with the deeper insights and some assistance, your company will get a better grasp of the value of social media and how it can grow your company’s bottom line.

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Published: June 14, 2012
Updated: August 28, 2021
Headline: What is the Value of Social Media?
Publisher: NeONBRAND https://neonbrand.com
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About the Author
Kenny Eliason
Kenny Eliason
Having grown up the son of a marketer, the skills of the trade are pumping through his blood. When you couple that with his programming and computer knowledge, you get an explosive combination. Kenny has been an avid digital marketer for over 9 years now, often being the first to recognize the hottest trends coming to the market. In his free time, Kenny loves downhill mountain biking. He calls it his "old man sport" since BMX was what he did as a teenager and it's not quite as easy to ride those little bikes anymore. Kenny is also a huge technology enthusiast, specifically when it comes to Apple products - did someone say, fanboy? Those close to him are often asking for help solving tech-related problems which often results with them saying, "man, you can fix anything!"
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