Last update: 02/21/13
Knowing your ROI on advertising and marketing campaigns is essential to your business success. Google Analytics will now give you that information through their Standard Reporting tab.
Using social media to promote your business is a smart idea. Companies from the largest to the smallest are to be found on Facebook, Twitter, Google+, and more. Big business really does nothing without tracking the details and particularly their ROI. Return on investment is the bottom line when it comes to deciding how to market products and where to spend money on advertising. Larger companies have marketing specialist teams to analyze and interpret their relevant data regarding the effectiveness of a particular mode of promotion or the latest ad campaign. The rest of us now have a way to track our success in advertising via social media.
Using Google Analytics to Determine Rate of Return
Google Analytics is a tool that anyone can use to determine where the best ROI is being made and what is not effective. Simply counting up your followers or your likes can give you an idea of how your page or presence is catching on and growing in popularity. But the money data has been missing until recently. The bottom line is how lucrative your campaigns are. That’s the information you really need and Google has come up with the answer.
You’ll still see the numbers you ordinarily see. In addition, Google adds a monetary value to those statistics to give a better way to keep a more accurate record of how your campaign is progressing. These numbers show conversion rates and allow for a more complete analysis of your social media interactions. You will be able to see the number of visits, the number of visits brought through by referral from other social media or social media users, the conversions as well as the assisted social conversions, and the last interactive conversion rate.
Tracking Social Media with Google Analytics
The listings will include each of the major social network possibilities for which you are tracking your statistics. StumbleUpon, Blogger, Twitter, Facebook, and Google+ are included in the numbers and broken down by specific social media format. If you had 2,000 visits to your total social media formats you might see something like this:
- Facebook 1200
- Google+ 700
- Twitter 100
- For a total of 2,000 visits.
The breakdown allows you to see where your marketing methods are working best and which you may need to revise.
The Google Analytics will be coming soon and will be available through the Standard Reporting tab. Look for it, and take advantage of the information as it is a valuable tool in gauging the effectiveness of your marketing campaigns.