Speaker 1: Actually, a quarter of people who have a positive experience at a business will go until 10 people.

Speaker 2: I don't know 10 people. Welcome to The Journey. I'm Nealey. And I'm Emma. And today, we're talking about four different ways to measure social media ROI. What's tip number one?

Speaker 1: Well, first off, and I'm sure you have this happen all the time, too. I get asked from small business owners on a regular basis, I know social media is important, but how do I measure it? Is there a way to do that? And there's also this, I think, determination in small businesses that they're like, there is no way to do this. So they love to hear about ROI, return on investment. You get asked this too, right?

Speaker 2: Right. They end up spending so much of their time on there. They want to make sure they're actually getting something back.

Speaker 1: Which I totally get, right? Your time is super valuable. You're doing a million other things. And then now social media is added to your plate. How do you justify the time or the money if you outsource it? Like, go daddy social. You want to justify that time and money. And a way to do that is understand, are you getting a return on investment? And the good news is there's a lot of ways to see if you are or not. There's data, analytics, metrics. But I'm gonna break it down into four umbrellas of how to measure ROI. Starting with number one, brand awareness.

Speaker 2: Cool. How do you measure brand awareness?

Speaker 1: So brand awareness can be measured in one way that you're probably already thinking at home. Your number of followers. How many people are following you? More people following you on Twitter, seeing your tweets, following you on Instagram, seeing your great photos, and following you on Facebook and reading those great captions. The more exposure you have and the more followers you have seeing it, that's brand awareness.

Speaker 2: Perfect. And does that count like likes and comments and things like that too?

Speaker 1: Totally. So likes, comments, love, shares, retweets. That's just gonna help you get in front of not only your followers, the awareness there, but your friends and their friends, maybe their family members as well. So the awareness just spreads like wildfire.

Speaker 2: Spreading the love.

Speaker 1: Spreading the love.

Speaker 2: All right. So digging in on the analytics aspect, it's easy to see an amount of followers, you see an amount of likes and things like that. Is there a step further we can go to really see like the nitty gritty?

Speaker 1: Yeah, totally. So that's a cool thing. If you have business pages set up, they allow you a clear view of what's working, what's not working, what time of day a post works well, how many people are seeing it, et cetera, et cetera. So with Facebook, you have your insights tab. And what's really cool is it breaks down a ton of information. And they even have a little information button on each one. So if you're reading a metric and it's like, I'm not even sure what engagement rate means. You can click on it, it'll break down what it is.

Speaker 2: Perfect. And Instagram too, you have to make sure you create a, or turn your account into a business profile. That way you can see insights and how people viewed your page, liked it, commented, what time of the week you get the most engagement. If you've turned your Instagram account into a business page, let us know in the comments below. Just say I've turned it into a business page.

Speaker 1: So that's with Instagram. Twitter, there's the top tweet. So you can see that in your Twitter analytics as well. So go in there, see what your audience likes. In other words, your customers. And then have that inform your strategy moving forward, which will also help you be more efficient with your time. And give the customer what they want.

Speaker 2: Give them what they want.

Speaker 1: Give them what they want.

Speaker 2: All right, moving on. Tip number two, where are we at with that?

Speaker 1: So tip number two, one of my personal favorites, customer satisfaction. And you're familiar with this inside your business, whether you have a barbershop or a car dealership, you can see it on the person's face if they're satisfied or not.

Speaker 2: I can't make a frowny face.

Speaker 1: Oh, darn, I was cuing him up. So one way you can do it online with social media is, well, your reviews. Your customers are gonna tell you if they had a poor experience or a great experience. But make sure you're reading those reviews. Believe it or not, I still come across businesses that don't take the time to read their reviews. I'm like, wait, this is a great place to see if your customers are satisfied or not. Also, what they're saying when they mention you on Facebook.

Speaker 2: Right, especially you have to respond, good or bad. I know most people will just respond to the good ones and try to just ignore the bad ones. They don't exist. Just give them a response, see if you can make it right. Apologize for the situation and move on.

Speaker 1: Totally, so again, pay attention to what your customers are saying. They're talking to you online. And if you want even a deeper dive into that, we have another episode of The Journey on social listening, so check it out. It's a cool statistic I read the other day. Actually, a quarter of people who have a positive experience at a business will go and tell 10 people, both online and offline.

Speaker 2: That's pretty awesome. All right, tell me, what's tip number three?

Speaker 1: Tip number three is actually gaining new customers, which is your favorite, I know. When I say you're gaining new customers, you can picture just dollar bills in your pocket. Make it rain. So how can you do that with all this social media and online stuff? A couple ways. One, your customers are gonna click on your Google listing for their directions. I know I do that before every business I go to because I get lost very easily. But if I'm clicking on the directions, I'm coming to your business. I'm coming to spend money with intent. Also, calling, calling you. That's another great way to measure that you're getting new customers. You've already learned that a lot of customers don't take the time to call. So if they're calling you, they mean business. They are serious about spending money with you. You got yourself a new customer. And so because the Google listing's really important, Yelp, and that click to call, you wanna make sure, I'm sure this is obvious, that everything is up to date. The right phone number, the right address.

Speaker 2: The hours, right? How many times have you gone to a business that said it was open, you get there, and it's closed?

Speaker 1: And that's a bummer. Just makes me so sad. So sad. And also besides that, if you have a chance to speak about your business, about you, or add photos, do that as well, too. And make sure that's up to date. Maybe you've remodeled since the last time you had your Yelp photos updated or your Google. Add that in there. Spice things up.

Speaker 2: Get some photos.

Speaker 1: Keep it up to date. So when your customer comes in, that new customer you just gained, they're getting an experience that they predicted, that they expected.

Speaker 2: Right. All right, so we've reached the end of our journey. We're on tip number four, the very last one. What do you got for us?

Speaker 1: Brand loyalty. Another one. You're familiar with the terminology, but what does it look like online? Well, there's, don't worry, it's not tough math, but well, let's see how it goes for Justin here. All right, engagement rate. How do you measure that? Well, it's pretty easy. It's the number of likes you received on a post divided by the number of followers times, you guessed it, 100. And that's going to equal your engagement rate, which is, no, no, no, it's not that hard. So write it down, keep it nearby. And when you're posting, check in, do the quick math, and then you'll determine, is that engagement rate where it should be? And what's also awesome about brand loyalty is actually 85% of customers, 85%, I don't know, it's almost 100. 85% of customers will actually engage with your brand, if they're loyal, daily. And when I say engage, they're going to be liking what you're posting, commenting, sharing on a daily basis.

Speaker 2: And that's huge. That constant liking, that constant following, they're going to continue to see their stuff, and they're going to continue to tell their 10 friends, right, and then onward and onward and onward.

Speaker 1: All right, so that's a wrap. We just covered four ways to measure ROI when it comes to your social media.

Speaker 2: Make sure you like this video, subscribe to the channel, and ring that bell if you want to see these videos first. This has been The Journey. Thanks for watching.