How To Measure Your Social Media ROI

Social media plays a dominant role in brand marketing. It’s projected to account for 16% of the digital ad market by 2017. Yet, despite its significance, many business owners don’t understand how to evaluate their social media marketing returns.

Although there are plenty of metrics to measure performance / results, the problem arises due to lack of a common denominator.

If you’re struggling to gauge the effectiveness and performance of your social media marketing efforts, these tips can help:

Performance indicators

If your goal is to generate revenue or build brand awareness, then you consider returns as a dollar value. Social media marketing affects your bottom line. Therefore, you can assign a dollar amount to your conversion goal.

On the other hand, different people consider brand awareness in different ways. Some businesses promote their brand to the media, while others want to inform people about it.

Therefore, make sure you and your stakeholders clearly define and agree upon specific awareness goals.

Business goals

No matter what your business objectives are, make sure you align them with your social media goals.

For example, businesses wanting more revenue can focus on specific social media goals, such as customer signups, free trials, etc. On the other hand, followers, hashtags, brand mentions, and such can track brand awareness returns.

Google Analytics

Google Analytics is a free tool you can use to establish and track goals. Use it to monitor how often online visitors complete actions on your website.

Competitors 

Keep an eye on your main competitors’ social media accounts to evaluate your performance. It’s the easiest way to track social media results.

What platforms are they using? What type of posts have they been publishing? How many posts do they post every day? In addition to gauging your performance, this can help you identity areas of opportunity for your business.

Keep in mind, your social media results can be significantly different from your competitor’s results. Don’t worry about that and try to improve your case.

Professional social media management service

Invest in professional social media management service to receive accurate results in a timely manner. Digital marketing company, SearchOne Advertising, specializes in providing social media advertising, management and monitoring to businesses.

The company tracks social media results, including business engagement rates, followers increase, post views, and delivers complete reports to their clients. Contact them today for a free social media analysis.

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