What determines success in generating leads in social media?
Some companies have a successful lead generation business on social media and don’t even know it.
How can this happen?
It depends on the ways companies measure success on social media.
So far we have assumed that a lead is a potential customer who has entered the sales cycle and has shown interest in a company’s product or service.
Many companies measure lead generation on social media in the same way they measure lead generation from traditional lead generation approaches.
But what if, for example, the efforts made on social media end up doubling the subscribers to a social event of the company?
This doesn’t necessarily bring new leads into the sales cycle right away. However, most marketers would clearly see this as a huge success.
To overcome this disconnect, companies need to define goals and measures of social media activity, particularly with regards to lead generation.
In the example above, the marketer could establish a measure such as “event attendee conversion rate”. Success would be measured by the number of subscribers who purchase within six months of the event.
If the need to measure is more immediate, then perhaps you need to analyze the status of each registrant in the sales cycle immediately after the event.
In this case, marketing is successful whenever the company’s CRM system officially reports that an event attendee has entered. in the buying cycle.
The point is that the company must know the goal of its social profiles, advertising campaigns and related KPIs.
Only then can you develop social media advertising campaigns that are profitable and with all the right elements.
Regardless of whether the company measures success as a purchase, content download, or joining a group, there can be a alignment with the sales team by being certain that one of those KPIs indicates that potential customers are advancing through the buying cycle.
If your campaign goal is to develop meaningful conversations with a targeted audience, make sure you’re using the right measurement or KPI. Instead of measuring the volume of conversations, it measures the percentage of leads entered into the sales cycle
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