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Earlier this week, Google made a pretty big announcement; the first true attempt at measuring the bottom line impact of social media. Tying all of those likes, comments, tweets, follows, and posts to what matters the most to your business. The financial return on what you’ve put in to your social media strategy.
The three biggest things Google is trying to capture (from the announcement post):
- Identify the full value of traffic coming from social sites and measure how they lead to direct conversions or assist in future conversions
- Understand social activities happening both on and off of your site to help you optimize user engagement and increase social key performance indicators (KPIs)
- Make better, more efficient data-driven decisions in your social media marketing programs
We’ve known for some time that social media is valuable. It allows you to pay attention to what is being talked about in your industry, listen to your customers, and react in real time to any issues, or compliments, they may have for you. This new tool is attempting to take this another step further and show real, tangible, financial results. We’re looking forward to using this tool.
