One of the biggest challenges social media marketers face is tying revenue to social media efforts. How do you know if it’s more important to build out a Facebook timeline or spend time training your sales team to mine for leads on LinkedIn? Thankfully, the Google Analytics team has developed new reports to help make this decision process easier. Our guide will show you how to derive actionable items to increase your lead generation from Social Media.
To start, Google Analytics provides great information about the steps a potential customer takes on the path towards conversion. Using an advanced conversion report, we can see the top ways Social Media influences users in the conversion process.
Looking at the first conversion path, we see a very healthy branding sign: users are engaging with this company on social media, and then visiting their site directly and converting. This translates into potential cost savings for SEO and PPC.
Conversion Paths By Social Channel
Google takes this information one step further and provides data about which social media channel users are visiting along the conversion path. In the image below, we see that LinkedIn (the top social channel for B2B companies) is providing a majority of the Social-to-Direct and Social-to-Organic Search conversions.
This B2B company now can see it should be spending more time optimizing its LinkedIn site and exploring new methods of utilizing this social channel.
Finally, one of the most important reports from Google Analytics is their conversion breakdown. A report like this is perfect for your boss or client that wants to know exactly how many conversions are coming from each marketing channel.
This chart shows that even though SEO remains the top digital marketing conversion generator for B2B companies, Social Media can also be a very powerful medium. Does it make sense to increase investment in Social Media marketing for 2013?
Conversions, Marketing Automation, and CRMs
Now that you know how to track conversions from social media, there is still one problem: how do you take conversion information and attach it to customer profiles in your marketing automation and CRM software? Well, unfortunately, most out of the box marketing automation and CRM tools don’t have a way to transfer this data from Google Analytics to your leads and then to opportunities. You’ll either have to build a custom tool yourself, or find a marketing agency like ours that can provide the necessary tools.