The tremendous growth in the number of businesses that are looking to capitalise on the power of Social Media has led to an increase in internet jargon. Terms such as likes, followers, engagement, re-tweets, mentions and shares are ready to bamboozle the unprepared! However, does measuring these concepts really reveal the return on investment of using Social Media?

It is not possible to calculate exactly how many new fans, followers etc., a business needs in order to gain each additional sale. There are simply too many unknown variables. However, the value of Social Media can be measured by examining the number of people who are seeing your Social Media ‘marketing messages’ and comparing this to other forms of advertising.

Here at Angels Media, we provide monthly statistics for all of our customers. These statistics tell us how often people are engaging, what types of content are being reviewed and the extent of the increase in traffic to a client’s website. Furthermore, the nature of Social Media means that we can ensure that the audience is in the client’s target market, both geographically and in terms of their needs.

Once these statistics are compiled, the campaign can actually be assigned a monetary value by comparing it to other forms of advertising. For example, if you were to investigate the cost of Pay Per Click (PPC), or the cost of placing an advert on a website or in a magazine, you would be able to work out the amount it costs to get one additional person to go to your website. In nearly all cases, it is more cost-effective to increase web traffic by using Social Media than by using other forms of advertising.

However, Social Media’s biggest value is not in generating direct leads. Social Media is at its best when it is used in tandem with a company’s other marketing strategies and their sales team. To elaborate, Social Media generates a considerable amount of brand awareness and soft leads within a client’s specific target market. The power of Social Media is that it increases familiarity and perceptions of a company within the target market. This means that any other sales messages from that company are received in a more positive light.

Therefore, not only can Social Media win a cost-per-lead battle with other forms of advertising, it will also support other forms of advertising by improving the target market’s opinion of your company. So keep tweeting!

If you require any assistance with your social media please email team@angelsmedia.co.uk and we will be happy to help!