Social Media ROI Measurements: What to Look For and Some Helpful Tools
Posted on: 8 April 2016
Share
ROI, or "return on investment," often refers to what you get back from something you invest money in. However, in the digital age, your ROI can also refer to the time you invest in something and what your efforts on a project generate. With regard to a social media presence and your social media ROI measurement, you may be investing just time or time and money. Either way, here is how you can tell that your time and/or money is returning your investment successfully and some tools that can help in this analysis.
Hits, Likes, Posts, and Entries
Does your website have links to social media pages? If so, you can place a counter on the social media pages so that every time someone moves between your website and your social media page (or from your social media page to your webpage) the counter tracks and racks up the number of visits. The higher the number of visits, the more traffic you have. More traffic is exactly what you want, since it brings the possibility of new leads with it.
The number of "likes" visitors give your social media pages is also a good indicator that the time and/or money you have invested in creating and updating these pages is paying off, since every time a visitor or customer likes your page, it allows you to see the types of people who gave the like and try to post more things of interest to them. Daily posts only take a few minutes, but might generate repeat visitation by fans and customers and attract new customers and fans. Your success registers with the number of followers you have, so if your pages have several thousand or more followers and it climbs steadily every week, your ROI is determined by the number of followers divided by the number of hours you put into your tweets and posts. The bigger the number here, the more successful this marketing strategy is for you.
Not Tech Savvy? No Problem—There Are Tools for That
If the entire previous section made no sense to you, it is okay. Not everyone can be tech savvy, but you can be tech savvy enough to get and use some tools that monitor your social media ROI for you. All the data that these tools automatically collect for you is easily read and often translated into a graph or pie chart to show you where you could improve, and you can also be provided with tips and tricks for making social media marketing work harder for you. In many cases you can get these downloadable tools for free when you utilize webpage-building services.
Contact a company that provides tools for social media ROI measurements for more information.