Measuring social media ROI is a challenging task, but it’s not impossible.
Every business today acknowledges the importance of social media, they do understand that social media sites provide boost to their marketing strategy, but they don’t necessarily understand how to quantify social media benefits.
If you grapple with problems of calculating Social Media ROI and finding value propositions attached with Social Media, please find below Two steps to measure the ROI of social media:
Analyzing traffic with website’s analytics speaks more about driven traffic through social media sites. And, the effectiveness of using social media becomes clear by analyzing your website analytics against any paid or PPC campaigns.
According to Adobe Digital Index Report “First-click attribution more accurately captures the impact of social media, increasing its value by up to 94 percent.”
Level of Engagements
Followers , their interactions, level of engagements and call to action activities help you measure the ROI of social media. Tracking such activities helps you understand the impact of your social media efforts. Have you tracked social media efforts? If not, what has held you back from doing so? So start a spreadsheet to keep track of how your social impact is growing over time.
Are you looking for more information on this topic? Check out a few of these helpful resources:
- Social Media ROI: 14 Formulas to Measure Social Media Benefits Search Engine Watch
- Measuring the ROI of Social Media [SlideShare] Social@Ogilvy