Sixty percent of marketers say “measuring ROI” is one of the biggest challenges they have with social media marketing, according to a Trust Radius survey.
The survey also found that tying social activities to business outcomes was a challenge for 50 percent of users surveyed.
It is hard to track revenue generated from your social media across multiple social challenges. One company thinks it has found the solution for businesses demanding ROI from their activities.
Pleasanton, Calif.-based cloud software company Zoho has released its cloud-based social media management software for businesses.
Zoho Social integrates with Zoho CRM and claims to be the “first tool of its kind to track revenue from social media marketing efforts”.
It was released last year as a tool to schedule and publish content, monitor social interactions, and analyze performance over time.
It has over 10,000 users on the platform managing social activities across Twitter, Facebook, LinkedIn, Google+, and Instagram.
The tool enables users to manually add anyone interacting with their brand on social media as a lead.
They can also set predefined social activities, such as likes, retweets, and comments, as lead qualifiers to automate lead generation.
Relevant keywords can be included as additional lead qualifiers.
They can track exactly how much revenue each social media network has generated and determine which is the most effective.
The marketing team can view CRM information and gauge the potential of their social media connections.
They can also add CRM notes about the connection from within the Zoho Social tool for the sales team.
There is an app for Android and iOS devices. Zoho Social is free — and without ads — for one user managing one brand name.
Standard charges are $10 per month for two users managing one brand. For larger organizations, its professional offering is $50 per month for five users managing three brands.
Praval Singh, Zoho Social’s product marketing manager, said: “Social media management tools are usually built to measure just reach and engagement.
“None of them connect social media marketing efforts with revenue. Now, companies can track which social network is most effective based on total leads, opportunities, and revenue they generate.”