On top of driving brand awareness and website visits, social media has enabled brands to interact with their audience like never before. The purpose? To increase sales, of course! Increased website visits or conversions are a good measure of business success – and social media and engagement on it has a lot to do with that.
At Socialbakers, we ran a study correlating engagement and found that creating engaging content leads to increased reach, and that engagement correlates to visits. There is a natural connection between reach and visits. Earlier this year, we analyzed 300,000 Facebook® posts by more than 2,700 businesses and concluded, “Reach naturally correlates with interactions in that the more reach you have, the higher your interactions are likely to be. The more engaging your post is, the more reach it will get naturally.” Read the full article here.
To prove the statement about how engagement on Facebook correlates with total visits of business’ official websites, we compared site visits with interactions to show how they relate significantly from the end of Q3 – to mid Q4.
Take a look at the visualization of the data above. Notice that when Interactions were high, visits to their websites increased, likewise, when Interactions diminished so did visits to their websites. Here we can deduce that if a brand garners a high amount of Interactions from their social media activity, there is a high probability that it will increase traffic to their websites.
The graph above illustrates the averages; the volume of social referrals brought from interactions (as defined by Likes + shares) can influence – and correlates to – website traffic.
Social ROI is relative – it depends on how you set out to measure your success. For media and publishers out there – it can be visits, for e-commerce, it would be website conversions, but for brands, each of them have to find their ROI. For example, Red Bull has turned their brand strategy into becoming a content publisher. For brand marketers, these correlations are interesting particularly for the message that they deliver because by communicating directly in social media they can have an increase of reach and brand awareness, and on top of that having a social customer care approach can improve both your brand image, and increase sales, and conversions.
Every Like, share, comment, retweet on your status updates, photos, videos etc. means another opportunity for website conversion. Building a loyal, engaged following improves your ability to drive sales.
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Understand your audience, create more effective content to engage and grow your customer base, and measure social media’s impact on your business goals.