Social media can be a powerful and effective tool in your marketing arsenal. In order to produce results you can see, you must create a plan that yields social media ROI.
So, let’s get you started on the path to measuring your social media ROI!
Define Your Goals
Before you can determine the success of your social media campaign, you need to define the goals or your program. Clear and measurable goals allow you to create a fruitful content and advertising plan. Your goals can include increasing audience growth, brand awareness, website traffic, lead generation, app installs, video views, or website conversion.
If your goal is to grow your audience, launch an audience growth ad campaign. If your goal is to increase awareness and engagement, create and test engaging content and boost for engagement to target audiences. If your goal is to drive traffic to your website, then launch a website click campaign and in include call to actions with links boosted for link clicks.
Pro tip: Put pixels on your website to better measure and optimize your ads.
Analyze This & That
Now that your goals are defined and you created and implemented your social media program around these goals, you need to continue to monitor to see what is and isn’t working. Look at your reach, total engagements and engagement rate, audience growth, cost per click, etc.
Look for these insights on the social media channel pages or use tools like Sprout Social.
So you calculated all of your metrics, now what? Use this information to make insightful changes to your social media plan to better reach your predetermined goals.
Did your audience not grow as much as you thought it would? Evaluate your target audience vs. the demographic of your current followers. Adjust your target audience to reach people more likely to follow you.
Did you have an increase in web traffic, but no conversions? Adjust your landing page to make it easier for the consumer to convert. Create content that better reflects the landing page.
Check out your top performing posts and ads and create similar content, give the people what they want!
The beautiful thing about social media is that it is all measurable, which means you have the ability to quickly and effectively make changes that yield a greater ROI!
Measuring social media ROI does not have to be rocket science. Defining goals, creating and implementing content and ads around those goals, analyzing your results and making improvements is all you need to do!
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