Last week, Google announced an update to their analytics, which is brilliant news for us digital marketers as we can now more successfully prove the ROI of social for businesses!
Google’s new social-focused reports allow a better measure of the full value of social media for your business, here’s a great summary via MyCleverAgency.
Companies are able to tell Google the goal they’re interested in such as registering a user, clicks to their page, or making a purchase for example, then Google’s new social reports will show you how many visits are coming in from social networks, which networks in particular, and how many of these social visits are converting to that goal.
This allows you to see how many conversions are generated from your social channels. Social Value compares the number, and financial value of all your goal completions against those that resulted from social referrals.
Referrals that lead to conversions immediately are labeled as a “Last Interaction Social Conversion“. If a referral from a social source doesn’t immediately generate a conversion, but the visitor returns later and converts, the referral is included as an “Assisted Social Conversion“.
This allows marketers to measure the value of each individual social channel by seeing the conversation rates of each social network, and the financial value they drive to your business.
This shows engagement and conversion metrics for each social network, so you can see how people are interacting with your content and whether it’s actually leading to conversion. For example, if you run social campaigns that promote specific products, you can see via the Social Visitor Flow whether visitors from each social network entered your site through these product pages and whether they continued on to other parts of the site or whether they exited.
This shows how people are engaging socially with your content off your site across the social web. For content that was shared publicly, you can see the URLs they shared, how and where they shared.