How to Measure ROI in Social Media


By Leanne Pressly, Stitchcraft Marketing

MEASURING ROI IN SOCIAL MEDIA

In today’s world, a compelling marketing plan must include social media. While social media platforms have transformed the digital advertising landscape, the metrics key to successful campaigns are still elusive.

For most businesses, seeing high numbers of followers or likes is an easy metric to decide how well their social media campaign is doing. However, in the long run, these numbers are meaningless, especially when it comes to your return on investment (ROI).

So, with that in mind, we want to take a closer look at social media marketing and help you create a better method for measuring ROI.

Step One: What Are Your Goals?

Whenever you start a new social media campaign, you should have a clear and definitive idea of what you’re trying to accomplish, commonly called SMART goals. SMART goals are Specific Measurable, Attainable, Relevant and Time-bound. Examples include growing overall sales on your website, increasing your conversion rate, raising brand awareness or building your newsletter list.

Knowing specifically what you’re trying to measure will help you successfully measure your ROI in social media. So, whatever your goal, make sure that it’s quantifiable. Site visits, sales numbers and email subscribers are all hard numbers that can then be calculated into money earned. If you have a nebulous goal in mind, figuring out your ROI will be next to impossible.

Step Two: Learn How to Analyze Your Numbers

One of the greatest tools at your disposal is Google Analytics. This online platform allows you to track data from a variety of sources, including social media. Additionally, many social sites like Facebook provide stats for your profile.

There are several great resources to help you make sense of this data such as A Beginner’s Guide to Facebook Analytics from Hootsuite and the Google Analytics for Beginners course from Google Analytics Academy. Overall, the purpose of using these tools is to provide a foundation for measuring ROI quickly and accurately.

Step Three: Determine Your Investment

To make sure that your time, effort and money are paying off, you should first understand what you’re putting into your social media campaigns. Consider the following factors:

  • Hours Worked: The more time you or your team invest in setting up, managing and monitoring your social media campaign, the more it affects your bottom line.
  • Content Creation: In many cases, you may outsource your content to third-party services. For example, hiring a professional photographer or copywriter.
  • Social Software Plans: While it’s free to set up social media accounts, there are many time-saving apps and management tools that cost money.
  • PPC Ads: Pay-per-click (PPC) advertising is an excellent way to budget your marketing campaign. Since you only pay when someone clicks on your link, you can manage your investment and ROI more easily.

Step Four: Calculate Your Earnings

Now it’s time to put everything in terms of dollars so you can determine how your goals will impact your bottom line.

Keep in mind that unless your primary goal is sales, then you’re working with projections, not actual stats. Here are some examples to help you get started:

  • Lifetime Value per Customer: How much do you earn from your average customer? This will be a benchmark when converting leads into sales.
  • Average Sales Visit: When people shop on your site (or in store), what’s the average sales ticket?
  • Conversion Rate: How many leads turn into customers?

No matter what your social media goals are, the end result should be money spent with your company. To do this, you’ll need to find a way to quantify how many of your social leads and engagements turn into paying customers or clients.

For example, a promoted Facebook post that drives traffic to your website can be expected to net you a specific number of sales per click. If you get 100 clicks and have a 5% conversion rate, each post should gain you five new customers. If your lifetime value per customer is $85, then your promoted post should generate $425 in sales per every 100 clicks.

Let’s say your goal is more nebulous, and you want to increase brand awareness. In this case, measuring ROI in terms of dollars and cents might look like this: First, determine how many of your current followers shop from your website on average — this will be your benchmark for determining ROI. From there, you can calculate how much ROI you should net from gaining X number of followers per week or month. If you’re not hitting those goals, it’s time to re-evaluate your social posting strategy.

Bottom Line: Know Your Numbers

Analyzing your social media marketing on a regular basis using SMART goals will help you determine what is (and isn’t) working for your brand.

If you have questions about calculating or increasing your ROI in social media, contact Stitchcraft Marketing today, and we’ll help you craft a better business!

Post-Show Seminar Throwback Series: Improving Your Social Media Strategy


So, you attended our Conference Program at the 2016 CHA MEGA Conference & Trade Show in Anaheim earlier this year. You absorbed a ton of information on everything from basic blogging and social media to legal and finance management.

Over the next several weeks, we’ll be featuring your favorite seminar speakers to remind you of the knowledge you learned and why it is important for your creative business.

This week we’re doing a throwback to Amberly Dressler’s seminar: Improving Your Social Media Strategy.

Watch Amberly recap her seminar to learn how to improve your ROI on utilizing social media.

Post-Show Seminar Throwback: Tips for Better Email Marketing


So, you attended our Conference Program at the 2016 CHA MEGA Conference & Trade Show in Anaheim earlier this year. You absorbed a ton of information on everything from basic blogging and social media to legal and finance management.

Have you implemented what you learned to better your business yet?

Over the next several weeks, we’ll be featuring your favorite seminar speakers to remind you of the knowledge you learned and why it is important for your creative business.

This week we’re doing a throwback to this seminar: Capture Their Attention and Leave ’em Wanting More – Tips for Better Email Marketing, taught by Lisa Fulmer and Carolina Moore.

Read their seminar recap below and watch this quick slideshow to remember the key points discussed.

Seminar Recap
By Lisa Fulmer and Carolina Moore

emailmarketing_CHA

You may have heard that email marketing is, at worst, dead…or at best, old-school. But email is still very much alive and still totally cool, even in this age of social media, texting and instant messaging.

Email marketing is an integral part of your overall sales and marketing efforts. Email helps you capture quality fans and followers who are more likely to become paying customers. By creating customer-centric emails that support your brand, you can build more loyalty.

Successful email campaigns are like a favorite TV show. If you produce great “can’t miss” stories with characters they love, your customers will want to watch every episode, then tell their friends…and they can’t wait for the next one!

Here is a quick slideshow on the topic that we gave in a seminar at the 2016 CHA MEGA Conference & Trade Show. If you missed it, here are some of the key points we discussed:

  • Email is vital for bringing customers through each stage of the marketing funnel and it augments your customer service.
  • You can attract new customers, deliver exceptional value and generate repeat business with email campaigns.
  • Email allows you to provide exclusive, subscriber-only content that helps you build stronger relationships and makes your customers feel special.
  • You can craft more commercial messaging with email than you can with social media to build revenue – just make sure you comply with CAN-SPAM laws!
  • Email marketing is highly measurable with many automation features, plus you can test and target by demographics and interests.
  • Many email services are free at first, then fees kick in as your subscriber list and/or email frequency grows. Most can be fully integrated with your customer database and social media platforms.
  • There are many tactics for making your emails more engaging and effective – an easy way to start is by taking note of the mass emails you receive from the lists you subscribe to. What do you like or not like about them, what impression does the email give you, how compelled are you by the message and visuals?
  • Content is king – whether you’re sharing inspiration, special offers, company news or funny trivia. Give them great reasons to look forward to your emails.

Let us know if you have questions or need help with your email marketing!

Lisa Fulmer

Carolina Moore

Member-Get-A-Member: Earn Money When You Refer a Member to CHA!


Get ready to work for the easiest $25 you’ll ever get! CHA’s Member-Get-A-Member program gives all active CHA members a chance to earn money!

Here’s how it works
If you’re an active CHA member, recommend your qualified non-member craft and hobby peers – retailers, suppliers, manufacturers, designers, small business owners, and other industry professionals – to apply for CHA membership. Tell them about the benefits you’ve witnessed as a member, like having a voice in your industry and boosting your sales at the annual CHA MEGA Conference & Trade Show. If your referral becomes a member, we’ll give you a $25 American Express gift card!

There’s no limit to the amount of gift cards you can earn! Just make sure your name is included on your referral’s application. Gift cards will be paid when membership is approved.

If you have any questions, do not hesitate to contact our membership department via membership@craftandhobby.org.

What are you waiting for? Start referring new members today!

Applications

 

Note: Referrals may not have been a CHA member during 2014.

The Projects are Done…Get Ready to “Hop” on Monday!


It’s almost time for the CHA Paper Arts+ Show Blog Hop! The Blog Hop features exhibitors’ products created into projects by CHA Designer Section Members!

BlogHop800x800rv2

Follow along right here on the CHA Blog from May 18 – 22 to see which products the Designers used and the creations they came up with. PLUS, you’ll learn how to make the projects yourself!

Win Prizes!
There will be a “password” at the end of each designer blog post. Make sure you keep track of the password each day. At the end of the hop you’ll need to use the “passwords” to form a phrase.

The first two people to tweet us @Craftandhobby the correct phrase will win:

  • 1st Prize: $500 toward travel to the Paper Arts+ Show
  • 2nd Prize: $25 AMEX gift card

Be sure to follow the #CHAShow hashtag on social media to share in all of the Paper Arts+ Show fun!

Here’s the full schedule for the week:

Monday

CHA Designer: Michele Emerson Roberts
Paper Arts+ Exhibitor: Graphic 45

CHA Designer: Keri Sallee
Paper Arts+ Exhibitor: Art Impressions

Tuesday

CHA Designer: Carmen Flores Tanis
Paper Arts+ Exhibitor: Pink and Main

CHA Designer:  Susan M. Brown
Paper Arts+ Exhibitor: Little B LLC

CHA Designer: Rita Barakat
Paper Arts+ Exhibitor: Bo Bunny

Wednesday

CHA Designer: Debra Quartermain
Paper Arts+ Exhibitor: Ellison

CHA Designer:  Beth Watson
Paper Arts+ Exhibitor:  M-D Building Products

CHA Designer:  Carol Heppner
Paper Arts+ Exhibitor:  Hot of the Press

Thursday

CHA Designer: Candice Windham
Paper Arts+ Exhibitor: Dare2BArtzy

CHA Designer: Marjolaine Walker
Paper Arts+ Exhibitor: Linnie Blooms LLC

Friday

CHA Designer: Lisa Fulmer
Paper Arts+ Exhibitor: Kaisercraft

CHA Designer: Kristi Parker
Paper Arts+ Exhibitor: Stampendous

CHA Designer: Madeline Faiella
Paper Arts+ Exhibitor: The Ribbon Print Company

CHA Designer: Linda Swingle
Paper Arts+ Exhibitor: Thermoweb

Tune in next week for the fun starting on Monday May 18!

Join the fun and get a sneak peek at what you can expect to see at the Paper Arts+ Show!


PA+BlogHop1000x288

We’ve paired our Paper Arts+ exhibitors with members of the CHA Designer Section for a fun Blog Hop taking place May 18-22.

Designer Section members are hard at work right now creating amazing projects using our exhibitors’ products. Beginning Monday, May 18, we’ll share the designers’ dedicated blog posts where they’ll show you which products they used, how they created their projects and pictures of their finished creations.

WIN PRIZES!
Follow along each day for your chance to win prizes. The bottom of each blog post will contain one word from a phrase. At the end of the Blog Hop, tweet the completed phrase to us at @CraftandHobby and include the show hashtag #CHAShow.

The first two people to tweet us the correct phrase will win the following:
1st Prize: $250 toward travel to the Paper Arts+ Show
2nd Prize: $25 AMEX gift card

Be sure to follow the #CHAShow hashtag on social media to share in the Paper Arts+ Show fun!

Thank you to the participating CHA Paper Arts+ Blog Hop exhibitors and designers

BlogHop800x800rv2

Visit the CHA Blog starting May 18 to join the fun and for a chance to win prizes!

CHA Social Media Section Wants To Help Members’ Marketing Campaigns


Our Social Media Section wants to help CHA members get the word out on their latest marketing campaigns. If you’re running a special event, contest, giveaway or blog hop, let us know and we can feature it here on the blog. You and/or your social media representative are welcome to join the section’s Facebook group to connect and collaborate with other CHA members who understand the collective impact social media has on our industry.

Let your fans and followers know about these exciting crafty campaigns coming up!

Handmade Holidays 2014 Hop Logo

4th Annual Handmade Holidays Blog Hop
Took place November 7-9, 2014

Over 100 handmade gift ideas from your favorite designers and manufacturers were featured as well as daily prize giveaways on the ClearSnap blog. Click here to see last year’s hop!

ugly-cat-christmas-sweater-266x400

Ugly Holiday Sweater Challenge
November 10-21, 2014

20 top craft bloggers have been challenged to use Tulip® Glitter products from iLoveToCreate to bedeck a sweater into the Ultimate Ugly Holiday Sweater.

duckholiday

A Very Duck Holiday

November 17-22, 2014

Hang out online with 10 bloggers to craft with Duck Tape – follow along on the Crafty Hangouts blog or via #ducktapehoa on Google+. There will be great holiday craft videos featured, too.

Ornament-Charity-Drive

Heartland Alliance Handmade Ornament Drive

November 2014

AllFreeHolidayCrafts.com is collecting handmade ornaments to donate to the Heartland Alliance throughout the month of November. Prime Publishing will also be donating $1.00 for each ornament collected (up to $1000). Send in an ornament and you’ll be entered to win a great prize!