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)