Measuring Social Media Marketing ROI: Steps You Need to Follow

Building an active presence on social media can help you enhance your brand’s online visibility, increase engagement, generate leads, and grow your business.

While many marketers leverage social media, some find it challenging to measure the return on investment (ROI) of their social campaigns.

Measuring the effectiveness of your social strategies can help you know if your efforts are driving the desired results. You can get insights about what’s working and what’s not.

Based on those insights, you can make more informed decisions to use the right strategies and generate a high ROI.

Here’s how you can improve your social media marketing ROI:

Define Goals

Your social media marketing goals should complement your overall business goals. They should also be realistic, measurable, and time-based.

Some common social media goals include driving traffic to your site, generating leads and sales, and increasing brand awareness.

Once you’ve defined your goals, determine metrics that can help you evaluate the performance of your campaign.

Some common metrics marketers use are:

• Engagement rate
• Reach
• Number of leads generated
• Number of conversions

Depending on your goals, you can create content that can help you attract, engage, and, eventually, convert your target consumers.

Use Tools to Measure ROI

Once you have your goals and metrics defined, choose a social media analytics tool to help you measure ROI. The right tools can help you track your content’s reach, clicks, website traffic, leads, and conversions.

You can identify which strategies are bring you maximum value and utilize them more. Similarly, you can stop using tactics that are not generating any significant results.

This will help you add value to your campaigns and improve your campaign ROI.

Interested in learning about more ways to boost your social media ROI?

Check out the detailed infographic below from ShaneBarker.com. It has tips and tactics that can help you achieve more with social media marketing. 

Infographic Source: Shane Barker