Recently we reported that many marketers are under pressure to deliver convincing results to prove that their social media efforts are worth the investment. While it depends on what your goals are, Google Analytics is making it a little bit easier to figure out which social channels actually drive value for your business and which tactics are most effective.
Social Media + Business Metrics
Recently, it launched a set of social reports found within its Analytics platform. These reports are designed to bridge the gap between social media and the business metrics that your C-suite has been harassing you about. You can better measure the full value of the social channel for your business by being able to determine: the full value of traffic coming from social sites, how they lead to direct conversions or assist in future conversions and the social activities happening both on and off of your site to help you optimize user engagement and increase social key performance indicators (KPIs).
If you haven’t already, here are a few things to keep an eye out for the next time you’re in Google Analytics:
Social Value Visualization
The Social Value Visualization provides social performance at a glance and its impact on conversions.
The Overview report allows you to see at a glance how much conversion value is generated from your social channels. A Social Value visualization offers a comparison between the number and monetary value of all your goal completions and those that resulted from social referrals -- both as last interaction and assisted.
Marketers can now measure the value of each individual social channel by seeing the conversion rates of each social network and the monetary value they drive to your business. Using the Conversions report, you can see the effect that social content, whether it be a new video or Google Plus post, had on conversions.
Identify which goals are being affected by social media
Social Plugins & Activity Streams
By reading the Social Plugin report, users can find which articles on the site are receiving the most engagement and which social buttons are being clicked to share them.
Social Plugins lets you find the content that’s good enough to share
The Activity Stream reports shows how people are engaging socially with your content off your site across the social web.
Finally, users can consult the Social Sources report, which shows engagement and conversion metrics for each social network. This comes in handy, as you can see how people are interacting with your content and whether it’s leading to a desired outcome, which of course is what you really want to know.
The Social Sources report lets you see how visitors from different sources behave
Not Another Number
These new reporting actions will help marketers deliver results to those who desire concrete numbers and will help them guide their marketing efforts. However, it’s important that companies set goals that are reasonable and actually translate into something necessary and valuable.
Google says that these new social reports will be available for all users over the next few weeks and can be accessed under the Standard Reporting Tab.