How Brands Should Measure Social Media ROI Effectively!

Must Read

Elon Musk Added Over $100 Billion To His Net Worth In Just 1 Year, Leaves Jeff Bezos Behind

Jeff Bezos may the world's richest person in the world but it's Elon Musk who has been...

iPhone 12 Plagued With Serious Problems: Should You Buy It, Still?

A serious problem with Apple iPhone 12, identified recently, is good enough to give a second thought...

Elon Musk Overtakes Bill Gates And Becomes the 2nd Richest Person in the World

It's been a good week for Elon Musk and his electrical vehicle business Tesla. Earlier this week,...

With the explosive growth of the Internet, social media marketing has become an inevitable marketing strategy for brands today. Companies are spending million of their marketing dollars to lure more than two billion users available on social media without having any monitoring procedures that could measure the returns on investment, largely known as ROI. In fact, most of the social media marketing agencies find it really difficult to calculate what they are getting back, in particular, from their social media campaigns running on the injected investment by the client. The question has been looming for long now, but the answer lies in only one tactic: Testing !

Social Media ROI

Here is an infographic, released by QuickSprout, explaining how exactly a client or social media marketing agency should calculate the ROI of their each campaign on each social media network.

Setting your conversion goal must be the first step to start with. For every business, this would be unique, but eventually it’s a measurable action that would result in end purchase. Then, start tracking the defined conversion by monitoring traffic, leads, customers, reach and conversion rate.

Advertisements

Every conversion needs a monetary value to ensure that you are on the right track to measure accurate ROI. Though this is a bit tricky process sometimes, but its vital for the success of your social media strategy in place. Don’t forget to measure the total benefits by channel, as this will help you to identify channels that are responding to your marketing strategy positively.

Now, it’s time to calculate the total investment per channel, add fees, labor cost and sundry cost of each channel separately and then add up all the cost to find out total investment.

Finally, you have to analyze the results by making few simple calculations and see if the returns from each social channel are meeting your expectations.

You can have a look on the below infographic that explains the whole procedure with the help of various examples at every level. Implement these steps in your next social media campaign and see if you are really churning out money from each of social network your campaign are running on.

social-media-ROI

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Advertisements

Latest News

Backed By First-Time Shoppers, Flipkart And Amazon Dominated Festive Online Sales in India

It seems like Flipkart and Amazon squeezed the most out of the month-long festive season in India...

Amazon Gets Slapped With Penalty As GOI Prepares To Tighten The Noose On Ecommerce Players!

In a recent move, the Indian Government slapped Amazon on its wrist for not mentioning the country of origin detail for products...

Facebook’s Past Comes Back To Bite As South Korea Fines Them For 2018 Scandal

The social media behemoth Facebook Inc. (NASDAQ:FB) has once again proved they are the true arch-nemesis of modern-day user-privacy!

Amazon Future Group Dispute Deepens As Singapore Court Turns Down Future Group Plea

The dispute between Amazon and Future Retail is, apparently, far from over anything soon as the Singapore International Arbitration Centre (SIAC) has...

Google Pay Fee On Instant Transfer: An Indication Of Google’s Aggressive Monetisation Strategy?

Google has decided to levy fee on instant payment, starting from the US market. A few days back, Google...

Twitter Account Verification Is Back, But Has it Lost Its Mojo?

Twitterati queue up! As the Twitter account verification process which is responsible for awarding blue badges prepares to...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter,...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one...

More Articles Like This