{"id":124536,"date":"2021-08-16T15:00:57","date_gmt":"2021-08-16T14:00:57","guid":{"rendered":"https:\/\/www.smartinsights.com\/?p=124536"},"modified":"2021-08-16T15:06:36","modified_gmt":"2021-08-16T14:06:36","slug":"your-short-guide-to-measuring-social-media-roi","status":"publish","type":"post","link":"https:\/\/www.smartinsights.com\/social-media-marketing\/social-media-analytics\/your-short-guide-to-measuring-social-media-roi\/","title":{"rendered":"Your short guide to measuring social media ROI"},"content":{"rendered":"

How do you know whether social media is working for you? How do you translate comments and likes into ROI<\/h2>\n

Social media marketing has become the norm for businesses across industries and niches. It\u2019s often hailed as one of the best digital marketing strategies \u2013 but how do you know whether it\u2019s working for you? How do you translate comments and likes into social media ROI (return on investment)?<\/p>\n

In this blog post, I will show you how to measure your social media ROI.<\/p>\n

Why do you need to measure your social media ROI?<\/h3>\n

Like with any marketing practice, you\u2019re investing time, money, and effort into your social media marketing strategy. So naturally, you want to know whether your efforts are paying off.<\/p>\n

That\u2019s not to say that if you\u2019re not getting any clear ROI from social media that means you should quit it altogether; rather, measuring your social media success helps you understand what you\u2019re doing right or wrong and what you can do in the future to actually reach your objectives.<\/p>\n

In other words, measuring your social media ROI is not just about the money or the investment \u2013 it\u2019s about learning from your social media results and implementing these findings in order to optimize and improve your overall strategy. Not only that, but it will help figure out where you need to invest more time and effort, based on actual results.<\/p>\n

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\n \n Latest digital media updates tracker\n <\/a>\n <\/div>\n
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Digital media options cheatsheet<\/strong><\/p>\n

Make the most of every social media platform by staying up to date with their latest updates. This handy cheatsheet tracks all the changes made each week to identify the most important ones that every 'hands-on' marketer needs to be aware of to test the latest approach to improve marketing for their business.<\/p>\n

Access the Latest digital media updates tracker<\/a><\/p>\n <\/div>\n <\/div>\n

Looking for advice for managing social media marketing strategy?<\/strong><\/h3>\n

If you're looking to optimize your social media marketing strategy, integrate your digital activities, or just need some help prioritizing and planning social media channels to grow your business, why not book a free 1-2-1 consultation call with our team? <\/span><\/p>\n

Consultation calls are designed to put you in the driver's seat and talk through your top opportunities for key marketing channels, spanning social and further. Plus, identify problems and solutions with a dedicated customer development rep, so you can make an informed decision about the best strategy for your business. Book your call to find out more. <\/span>

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1. Start with your objectives<\/h3>\n

In order to know which metrics are relevant to you and which will help you establish your ROI, you need to know what you want to achieve.<\/p>\n

More traffic? More leads or subscribers? More reach and engagement with your audience?<\/p>\n

Only once you know what you want to achieve can you accurately measure your results.<\/p>\n

Start by thinking of your business objectives; after all, you\u2019re using social media marketing to help you reach these objectives.<\/p>\n

Once you\u2019re clear on what you want to achieve as a business, you can start detailing your social media goals. Be very specific about what you want to achieve and adjust your goals as you go along; for example, you might focus your attention for a month on raising your social media traffic by 20%, but that isn\u2019t sustainable in the long run. Or you might notice that Twitter drives considerably more traffic than other social networks \u2013 in that case, you could adjust your strategy to focus more on Twitter rather than other social networks.<\/p>\n

Whenever you set a social media goal, remember to ask yourself one important question: how will this help me achieve my business objectives?<\/p>\n

2. Establish your KPIs<\/h3>\n

Once you\u2019ve got your goals, you need to establish your key performance indicators (KPIs) \u2013 i.e. the metrics that you will need to monitor and measure in order to accurately measure your social media goals.<\/p>\n

If you can\u2019t measure a goal, then you should think of alternative objectives to replace it with.<\/p>\n

For example, if your goal was to get more social media traffic, then you\u2019d have to measure your clicks as well as your social media traffic.<\/p>\n

If you wanted to generate more leads<\/a>, then you\u2019d need to measure your social media website conversions.<\/p>\n

If you wanted more brand awareness, then you\u2019d have to look at your growth in followers and engagement.<\/p>\n

Basically, whatever your goals may be, you need to ensure it can be measured and that you know what metrics to keep an eye on in order to measure them:<\/p>\n