Introducing A Smarter Dashboard For Identifying The ROI of Social MediaPosted on 19 Mar
This is an update I’ve been waiting for. It’s always been a challenge to quantify the actual value of a social lead and track their value over time like in a traditional sales model. This latest update, provides LeadSift clients with exactly that! Today we’re excited to share with you one of the latest things we’ve been working on at LeadSift: the launch of an ROI driven dashboard. LeadSift now delivers clients with insights and information that will help them better understand their sales funnel and track the value of their social leads. Let’s dive in so you can see exactly what I’m talking about:
Accessing the LeadSift Dashboard
For those of you who have already accessed the analytics section, some of this is just a refresher. For anyone who is responsible for delivering success metrics for their campaigns, this is going to be very helpful. To start, you simply click “Analytics” in the top corner of the LeadSift platform.
Once you’ve clicked “Analytics” you will be taken to the dashboard where all the magic begins.
Monitor Social Leads In Your Pipeline
As a tool that is committed to delivering businesses and brands with relevant social leads, we now arm you with the ability to assign and track the dollar value of leads through the entire engagement cycle. You can assign the value of a lead, track their progress through the funnel and assign value to the various types of engagement you may have. To see how many leads have come through the LeadSift platform, select the appropriate date range and you’ll see the analytics graph:
The dashboard will highlight how many posts were scanned by LeadSift to identify the total number of social leads in your pipeline. What gets me most excited, is the opportunity index. The opportunity index is the total value of all the leads that are in the pipeline times the value of a converted social lead. For example, if you’re selling a product worth $100 and there are 1,000 leads in the pipeline; the total value of the opportunities delivered by LeadSift is $100,000. In the example above, the total value of the leads delivered by LeadSift was $115,370 – That’s the potential ROI.
Track The Value Of The Social Leads In Your Pipeline
We recognize that every business and brand will value social leads differently. Thus, when we created the opportunity index we wanted to ensure that you had the ability to customize the value based on your situation. To identify the value of your actual lead, you simply click “edit” at the bottom of the dashboard: Once here, it’s time for you to identify the base value of a social lead. Ask yourself how much is the Customer Life Time Value (CLTV) if you sold one of your product or service to one of the prospects. That value is what you would then place in the “Base lead value” section. Social leads deliver these potential customers to your sales pipeline. You can assign the probability of closing the deal on social by assigning values based on interactions (demo, pitch, proposal submission etc.) with them; that is how a Sales pipeline is built. Using this logic, identify the close rate probability based on each social engagement, as each interaction would be helping move that user further into your sales funnel. The value of the leads you’ve interacted with are then calculated based on these figures and delivered back to the main dashboard:
Understand Who & What Is In Your Sales Pipeline
Finally, we’ve given you the ability to see the social leads that are most likely to convert and the demographics for the leads we’ve delivered. This can help you drill down and identify which leads require some serious attention while the demographics provide insight that can guide a series of marketing and communications decisions.
Understand The Success Of Your Efforts
The new LeadSift dashboard also highlights key insights around how your audience is interacting with your content. It tracks the levels of engagement, the click through rates on your content and even tracks your average response time. The combination of these insights give you clear indicators of what areas you need to improve in your social media efforts and arm you with the knowledge to deliver richer content and better customer service.
For the first time, you can now attribute a value to social leads and truly track the ROI of social media. We’re always working hard to create new features that will help you drive real results through social media. We’re continuing to evolve and develop LeadSift and would love to hear what you want in the future.