Social Media Return on Investment (ROI)

Social Media Return on Investment (ROI)

Tracking Social Media ROI takes some elbow grease.

But oftentimes businesses don’t want to integrate social media into their marketing/communication mix because they don’t believe that they can track ROI. We get it. You can’t run a business on likes, tweets, shares, retweets – you need to know that there is a return on what you’re doing online. We work with businesses to identify how social media will support their business goals; we also make sure we’re tracking our programs with the right metrics. Before you begin a program, check out the information below.

Before you do anything else with your social media & marketing, get a handle on the following:

  • What are your business goals?
  • What are your objectives?
  • Who is your audience?

Often times we get ahead of ourselves thinking that if we don’t do it right away the opportunity will pass. Make a plan. Get a handle on business objectives and why you want to integrate social media into your marketing program (e.g.: get more leads online, customer service etc.)

 

Here are four steps to take when considering your Social Media Program:

Identify business objectives (e.g.: create awareness)

Identify goals that support business objectives (e.g.: reinforce online/offline advertising)

Identify your KPIs (e.g.: branded traffic – people who already know who you are because they look for your site)

Decide Targets (predetermined numerical values that indicate success or failure; based on historical performance)