Are your clients constantly clamoring for social proof?
If you haven’t already done so, you need to find a strategy to measure your social media return on investment (ROI).
In this article I’ll share tools and tips to measure the ROI of your social media efforts.
Why Measure Your ROI?
ROI is proof that your marketing efforts are working. Clients and supervisors need to know if you’re successful… and you do too!
This is important for social media companies, consultants and in-house staff.
The main challenge in measuring ROI is keeping up with changes in algorithms, implementing the new tools that hit the marketplace and proving to your clients that they’re getting the most out of their investment in you.
Here are five steps for your ROI measurement strategy.
#1: Set Social Media Goals
ROI can be measured in a variety of ways: through customer acquisition, lead generation, clicks, revenue, contest entries, etc. It all depends on your goals. Before you can track and measure your ROI, you need to determine your goals so you know which factors you’re measuring and what success looks like.
Top 5 Metrics for Auditing Your Social Media Marketing ROI: Beyond revenue, participating in social media has many “beneficial business applications, such as facilitating customer service and boosting public relations.”
Reach, traffic, leads, customers and conversion rate are the metrics Pamela Vaughan on HubSpot suggests you consider to determine social media marketing success.
Do you want to improve the results of your social media marketing?
Measuring your social media performance is key to getting great results.
You need the right tools to measure those results.
In this article, we’ll go through 3 analytic tools to help improve your results on social media.
#1: Mention – Monitor Your Brand Anywhere on the Web
Mention is an excellent social media and web monitoring tool. You set up alerts based on keywords, and content related to those keywords is displayed through the Mention application or sent to you via email or social media.
When you monitor and track keywords, you can find potential business, build relationships with new people and respond quickly to situations that could damage your brand.
There are many monitoring tools available, but many either are very expensive or have limitations.
For example, you may use Google Alerts to track keywords mentioned on the web. However, I’ve found these alerts are not nearly as comprehensive as Mention. Google Alerts also does not provide the functionality that’s essential to manage and proactively respond to these alerts. Mention provides this functionality.