How to Measure Social Media ROI & Prove Its Impact on Business Growth
Before you start figuring out your company’s current return on investment, you should more than likely take a few moments to clear your head. Countless firms have scrapped very effective campaigns simply because they didn’t have any hard data to indicate they were working. If you don’t have sufficient metrics to prove your social media promotions are solid, look at raw sales figures.
You may notice at least some kind of trend that started when you first implemented your current campaign. This would suggest things are possibly stronger than they might seem. Below, the digital marketing professionals from Saba SEO, a premier marketing and SEO company San Diego businesses rely on for high-quality service and unmatched expertise, explain how social media campaigns can be tracked to measure their effectiveness.
Examining the Raw Statistics
Figures can sometimes lie, so you’ll want to be careful even if you do have access to hard numbers. Social media platforms grow and shrink based on what’s going on in the outside world. Just because you lost followers recently doesn’t mean it reflects the quality of your campaign.
A better way to measure statistics is to look directly at the number of people who click through one of the links you post. Conversion rates are still an excellent indicator of how successful a particular campaign is. The number of comments left on a particular post can also tell a lot about popularity, but it won’t tell you how much money is actually getting made off of it.
Once you have at least some dollar figure, you’ll want to consider how much it actually costs to manage your social media campaign. Besides hiring creative professionals to provide content, most people spend very little on such promotions. Landing page design is probably the only major expense most companies will likely incur. While some enterprise-level landing pages can cost hundreds of thousands of dollars, most people won’t spend very much. This is perhaps the biggest reason social media campaigns tend to be more affordable than almost any other kind of marketing.
Social media should definitely be one of the most important parts of your overall marketing strategy. If you need help creating or managing your social media efforts or you’re looking for any other type of internet marketing service, call on the experts from Saba SEO. We’ve been helping businesses boost rank and increase revenue for more than two decades. Reach out to one of our social media marketing specialists today.
