Measuring Return On Investment (ROI)

Measuring Return On Investment (ROI)

Measuring Return On Investment (ROI)

    • Know - There are methods of measuring how effective your social media marketing efforts are working. Track your reputation, brand awareness & loyalty, retaining & satisfying customers while directly saving or earning revenue.
    • Audit - Follow the metrics to know how effective your ad campaigns are by conducting a social media audit. Tools from simple spreadsheets to on line utilities that automate the process. Most of the social channels have built in analytics you should explore as well. Create a spreadsheet to compare metrics. To perform an audit, collect information about:
      • Channels - Make a list of the social channels your company owns.
      • Ownership - Develop a list of who has log in credentials to access those channels & at what level of permission. Are there any that need to be removed?
      • Followers - Note how many followers there are in each channel.
      • Non-Owned Channels - Have you been spoofed by someone squatting on a channel pretending to be your brand. Get control & resolve any mis-information. Report non-compliant offenders.
      • Consistency - Brand recognition is something that is important in all forms of marketing. Style, Logo, Colors, Voice & Tone all should reflect the goals of the business.
      • Performance - Each channel receives content data, in different ways and by different audiences. Some of the Metrics you will want to track are:
        • Best & worst performing posts.
        • Posts with the most engagement.
        • Post frequency.
        • Content with the best & worst performance.
        • Publish times
        • Videos
        • Click-Through to Content
        • Post Reach & Impressions
        • Number of Tweets
        • Effective Keywords
        • Response Rate
        • Sentiment (positive & negative)
      • Competition - Research your competitors & know what is working for them.
    • Measuring - Create trackable URLs & use Hashtags to track your social media campaigns.