LMI BLOG

How Imaging Dealers Can Measure Business ROI on Social Media

Posted by LMI Dealer Content Team on Fri, May 13, 2016 @ 04:54 PM

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If you’re like 80% of imaging resellers (this includes copier dealers, Managed Print Service providers and those into document management), chances are you’ve flirted with social media but haven’t been able to measure the return on your investment. Can you relate?

The transparent nature of social media makes it easy for you to measure the amount of followers, fans or connections you have on popular social channels such as LinkedIn, Twitter and Facebook. But the question remains, how does that translate into measureable business results?

Here are a few ways we’re helping LMI dealers measure the ROI on their social channels with our digital marketing and website reporting services:

  • Social Dashboard Reporting – Our exclusive monthly reporting system provides dealers with a month over month snapshot of how each of their social channels is performing compared to the previous month, quarter, etc. This type of dynamic reporting allows executives to see which channels are performing well, and which ones need attention.
  • Website Traffic – As we continue to expand our support of LMI dealers seeking professional website creation and digital marketing services, it has become more and more evident that the volume of people hitting a website is directly connected to the amount of sales leads received. Shockingly, most dealers don’t currently monitor the performance of their website which has become their new showroom to online buyers! Even basic tools that are free, like Google Analytics, will provide you with real-time ROI metrics you can use to measure the effectiveness of your website.
  • Sales Lead Generation – If you were to follow the buyer’s journey of the last 10 customers that bought from your company, would you know where their engagement really started? Was it a conversation with a sales representative or was it a Tweet that promoted a new guide, eBook or webinar that drew them to your website? Once on your website, (if your website is set up properly) did they convert from a site visitor to a sales lead by surrendering their contact information? Depending on the CMS or CRM platform you’re using, you may be surprised how many buyers started with social media, hence another way to measure your social ROI.
  • Sales Recruiting Effectiveness – With sales turnover rates hovering in the 40 – 60% range, the need to attract and retain today’s millennial sales representative may require a social presence on your website.  Ask the younger people in your office what they think of your social channels and, chances are, the potential candidates you are trying to attract will think the same. Like it or not, millennials are socially savvy and they will use your company website and social posts as a measuring stick which could work for, or against, you. Although it may be more difficult to measure, we would argue that a socially active dealer has a better chance of creating awareness and attracting the best candidates who will be able to use social media to sell their products and services when they get hired. 

Need help creating a social strategy for your business? Engage one of our LMI representatives to learn more about how you can grow your business and profits with our website and digital marketing services!

Tags: LMI Solutions, digital marketing, social media strategy