How Your Marketing Team Can Measure Social Media ROI

Introduction

Social Media has become a part of our everyday lives.  However, when it comes to the business world, how do we know we are using it successfully?  How do we know that customers are going to our social media sites on a regular basis?

Our guide will show you the steps you need to take in order to create, and measure, your social media tools.  It will show you everything you need to know to build a successful social media campaign, which will help your return on investment.

Modern Phones and the Internet

First, it is important to remember that many people use their phones to go online.  People do not just sit at home or their office to use the internet.  With today’s technology, people are using newer phones for just about everything.  As a result, you must create a mobile-friendly brand for your company.

Social Media ROI Guide

But, how does a company do this?  After all, using social media is no longer an option.  It is essential for a company’s success.  Using these tools have now become part of the blueprint in creating good business goals, and measuring their success is essential.  But, first, let’s clear up what return on investment is with a formula:

Social Media ROI = (Social Media return – investment) / Social Media percent

While this may look like gibberish, it shows that your percentage of using social media, and your investment into it, go hand-in-hand with how well it works for your company website and hosting plan.  But, you cannot always quantify it.  You need to measure it by people’s behavior.  Are they using the social media pages, and continuously interacting with them?  If not, you need to change your tactics.  Everything from your media, to a staff that can effectively run your social media pages, is essential for creating a message to which people will respond.

Measuring these pages will help you in several ways.  They will help you figure out what methods are working, and which ones are not.  It will show you where the social media budget is being used effectively.  Lastly, it will also show you what people are responding to, and what changes need to be made to your message.

Measuring Social Media Return On Investment

Now that you know what social media can help you do, it’s time to measure the return on investment.  You can do this by first setting your goals.  While most companies want to boost revenue, there are plenty of other goals to consider.  Lead generation will help you get new customers, but measuring page clicks will also help you determine if people are just visiting your pages or actually interacting with them.  As a result, your interaction with them on these pages will improve your business by your willingness to extend posted conversations.

Next, you need to determine what platforms you will use.  While Facebook and Twitter are essential to get your message across, you should also consider others.  LinkedIn is a business-oriented social media site that is perfect for businesses.  However, if you post pictures on your sites, and social media pages, consider Instagram.  This site showcases pictures, and videos, which creates a visual representation of your company.

Once you get started, you can use different tools to monitor progress, and create reports.  Seeing these visual representations of your business will help you fine-tune your methods.  It will also show you what you need to change in order to improve business.

Social Media Measuring Tools

Picking the best social media measuring tool will help you see the details of what works, and what doesn’t.  While Google Analytics is a popular choice, there are several others that will get the job done.  Tools like Kissmetrics and Cyfe are also options that will help you measure your social media tools.  Every tool shows you different aspects of how your website, and social media pages, are helping your business grow.  Looking at the reports will help you tweak your message, and methods, to improve your company.

Conclusion

Social media has become an essential tool for a company’s growth.  As such, measuring its effectiveness has become just as important.  Looking at the reports will help you see what works, and what doesn’t.  By measuring their effectiveness, you will be able to improve your business and develop a great message for your customers.