How Well Is Your Business Adapting To Social Media: 4 Ways To Measure

How is your business marketing working for you right now?

If you are reading this blog you know that marketing as we know it has changed forever. New technology, new applications combined with a tough economy to completely change the game. This coming year will be the new beginning for many businesses…or the beginning of the end for some.

Why? Huge economic advantage awaits companies that can lower their average cost per lead and increase their average revenue per customer. New mareketing techniques in the distributed web, including social media marketing, will be a big driver.

The question is how is your business doing?

The begining of a new year is a great time to reflect on these areas of your business and set new goals for 2010:

1. Are you listening? Does your business have an active, pro-active strategy and plan to make sure you are observing all the relevant conversations occurring across the web? Winners in the new marketing paradigm will understand their customers and competitors better than anyone else.
2. Are you adding value? How well are is your business creating valuable content to educate and nurture your prospects so you can grab and hold their attention?
3. Are you participating? Being regularly involved in conversations makes you known, and if done well, liked in the community you are working within.
4. Measuring and monitoring! This ties it all together. Measuring key metrics like where your traffic is coming from and what are the conversion metrics. How is your list growing for various social networks as well as your overall database. If you are not growing, something is not working.

Gone are the days when you created a print or TV ad, agreed on a media plan, and ran it though the year. This requires and active, daily presence by your business. You need a strategy and plan to make it work.

What do you think?