When it comes to social media and business, LinkedIn leads the way with 300 million+ members connecting the world’s professionals together. Whether you operate on a local, national or international level, LinkedIn offers endless opportunities. As with any other business marketing media, it’s vital to measure your LinkedIn ROI in order to reach your goals and achieve success from all the work, time and effort you put in.
Monitoring your LinkedIn return on investment (ROI) can be done in numerous ways and as with any analysis it’s important to look at the quantity and quality, so here are 5 top ways to analyse your LinkedIn ROI.
1. Number of Leads
Measuring the number of people who contact you via LinkedIn or have expressed an interest in a service or product that you offer is a good first step. By analysing your time/cost spent on LinkedIn and the number of leads you get you can reach a cost per lead ROI.
2. LinkedIn Profile Views
This is an interesting one to monitor, by allowing you to see who has viewed your profile LinkedIn gives your sales team leads to follow. If there are a number of people viewing your LinkedIn page but not contacting you, then ask yourself why. Make sure you including the right keywords in your description and ensure your LinkedIn profile is up-to-date and as good as it can be. It’s also interesting to see how many of your competitors view your page on a regular basis!
3. Website Traffic
If your goal is to drive traffic to your website through your LinkedIn content, then its vital to have tracking software so this LinkedIn ROI can be measured. There are many web analytic tools on the market, but Google Analytics if free and simple to set up, allowing you to track social media activity. It is certainly worth trying before investing in costly software.
4. Likes and Comments on LinkedIn Posts
Measuring LinkedIn engagement is a good way to gauge whether the content you are posting is firstly engaging and secondly getting to the right people. You can monitor the type of people you are reaching and amend your content accordingly. For example if you are trying to reach Managing Directors but only Sales staff are engaging with you then you may need to address your content or time of postings maybe.
5. LinkedIn Recommendations
As with any social media platform, recommendations from clients or customers builds trust and confidence faster than any amount of marketing you may do. Analysing the number and quality of recommendations is a good LinkedIn ROI measurement to see how you are reaching out on LinkedIn and also a great way to see what people are saying about your work, staff and company. Don’t forget you can also ask for recommendations, don’t be afraid to request them from people you have worked with or when a project has gone well.
It’s important to remember the difference between ROI on social media to traditional ROI. It really is more about the interaction; engagement and marketing reach than measuring the pounds and pence.