HootSuite: How To Measure the ROI of a Tweet!

Well, they did it!   The popular social media management platform has added 1 million users each year over a three-year period to hit the 3-million user mark.

The HootSuite dashboard, used by millions, allows you to monitor and post to multiple social networks, including Facebook and Twitter. To supercharge collaboration it also offers a paid Pro and Enterprise version that allows you to have multiple contributors to your social profiles without sharing passwords.

And, as your followers grow across your media channels you can also create public or private lists to manage them and ensure you don’t miss important updates from your favorites.

HootSuite has released case studies demonstrating how social media campaigns can be tracked and monitored for actual sales conversions.

For instance,  The Palms Hotel  in Las Vegas had a specific goal: To tie room bookings and transactions to specific social media actions — like tweets or Facebook posts — gathering metrics to allow the team to optimize their messaging and outreach tactics.

To achieve this objective the Palms Hotel used a number of HootSuite features including:

• Social analytics
• Monitoring
• Team collaboration
• Geo-location features

The goal was to sell a minimum of 15 transactions only using Facebook and Twitter during a two-day campaign.  Further, it wanted to keep costs low and only use existing web assets and properties. Another goal was to reach out to any unhappy customers (or prospects) and resolve their issues in a timely manner.

One dimension of the strategy was to create a Twitter Sweepstakes, which included a giveaway, tweets (Text-to-RT), a custom landing page, and further secondary prizes.

Using the HootSuite analytics platform, it tracked metrics including fans and followers and more importantly, the dollar value of each message from tweet to transaction!

Some of the results were pretty good:

• Room rate reservations  jumped upwards by 47%
• Revenue goals were exceeded by 67%
• They accumulated an additional 2596 followers over a 30-day period

The Case Study is a valuable document for illustrating the growing power of using social media to generate actual revenues for a company.

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