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.
Look no further.
All of the answers (and more) are right here in this free third-annual social media report.
If you’ve pondered any of these thoughts, look no further. All the answers are right here in this free report.
Watch the above video for a quick summary.
As marketers learn more about the “how, when and where” of social users, we can better understand how to optimize our marketing efforts.
Here are two studies that drill down on “how we act” and “what we want” in the world of social networking.
#1: Are We Addicted to Social Media?
A recent independent study by Retrevo Gadgetology revealed some interesting stats about our love for social media sites. The study asked 1,000 users the “when, where and what” regarding social media sites like Twitter and Facebook. The stats suggest we just might be completely addicted to social networking (raise your hand if you tweet from the bathroom!).