Measuring Social Value with Google Analytics?

Google just launched a new way to measure social network conversions in depth – which is pretty exciting. Implemented in the regular Google Analytics, businesses can now monitor in more detail what the conversion rates from social networks to transactions is.

Social Media Conversions in Google Analytics

(image source: Google)

It is now easier to follow specific networks and campaigns. The figure above illustrates the ratio between total conversions (Conversions), conversions through interaction – people who came to your site from a social network and transacted during that visit (Last Interaction Social Conversions), and those transactions, which have been prepared by your social media activities but didn’t take place on that visit but on a later one (Assisted Social Conversions). You surely have to be careful and critical interpreting the figures, but that analysis greatly facilitates the calculation of social media effectiveness. The distance from nonfinancial quantitative social media data toward financial return decreased a bit through this new feature.

But this new area of Google Analytics is not limited by sophisticated referrer-analysis but also monitors social media interaction originating from your site. This activity stream takes a look into the social networks and shows public posts and shares.

Social Activity Stream

(image source: Google)

All in all, Google makes it easier for marketers, SM managers, and other analysts to monitor the social media activities, to measure the influence inbound and outbound, and to quantify the effectiveness of social media investments – all in one place. Great tool.

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