How to Measure Your Social Media ROI
Social media is good, they say. These days every business needs to maintain a social media presence, they say. Social media will drive your traffic, boost your SEO, maximize your ROI, and make your teeth whiter, they say.
Okay, they don’t say that last part.
In all seriousness, we all hear a lot of talk about the key benefits of social media marketing, but the process of putting actual numbers on those benefits seems hidden in a cloud of question marks.
You see signs that you’re making good progress. You engaged positively with a customer on Facebook. Another customer clicked the link you shared. Another downloaded the copy of your eBook you Tweeted. And another signed up for a free trial after watching your video on YouTube.
You have all these vague points of contact scattered across a variety of platforms. So how do you translate them into actual dollars?
Good news, this infographic from Quick Sprout will walk you through the steps:
- Set conversion goals
- Track conversions
- Assign monetary value to each conversion
- Measure total benefits by channel
- Determine total costs
- Analyze results and improve
Read on for more details, and start moving from abstract concepts like “reach” and “awareness” to real measurable results.
