Measuring My Social Media Marketing ROI

Measuring My Social Media Marketing ROI

More businesses are spending a significant portion of their marketing budget on social media. Social media marketing is crucial but at times it can be difficult to tell how successful a particular campaign has been. How can you gauge the performance of a specific social media strategy so that you know it was worth the effort?

To measure social media marketing ROI there are many different kinds of metrics that you can look at. You can measure fans, followers, retweets and shares or even referral traffic from other platforms. In order to measure the ROI for a particular campaign though, you will need to identify the specific goals you have and determine your key performance indicators that will measure those goals.

For example if your goal is increasing engagement then you might focus on measuring likes, comments and shares. If your goal is sales then you would track your conversion rate based on actual purchases. There are tools to help track changes in any of these numbers such as Google analytics which helps you monitor particular actions from visitors including conversion.

It can also be useful to measure your social media efforts in comparison with competitors to see how you are succeeding. You can start to look for ways to stand out against others in your industry so that your social media efforts are more effective in the future. Doing something different or unique compared to other brands can help you get better results with social media marketing.

As long as you know what your goals are for a particular campaign you can narrow down the type of data you need to gather in order to measure your ROI. If you consistently work to improve your ROI you will start to see your social media campaigns experience more success over time.

 

Matt Ramage is founder of Emarketed a web marketing agency located in Los Angeles. He loves coffee, good design, and helping businesses improve their look and getting found on the Internet.

What Do Facebook Fans Want from Your Brand?

Facebook fans expectations after LikingDo you sometimes feel unsure of what Facebook fans want after they Like your brand? That’s why studies about Facebook consumer behavior are so helpful in guiding businesses on what to expect from their customers and how to fulfill those needs.

An eMarketer study shows that the top reason that customers Like a brand is that they want to gain access to exclusive content. 58% of users feel this way for a reason – they want to be special! With the holidays just around the corner, fans want to access coupons, sales and more. Next up, fans want to hear about updates about your company. Hearing about people and company events is a great way to encourage brand awareness and give fans a break from updates about services and products.

Different media uploads will help your updates get more clicks. 47% of fans expect posts, photo and video updates. These posts are more likely to get read and will add a more interesting touch to an otherwise plain text update. People are visual and would rather much SEE something than read it.

28% of fans want to interact with a person or brand. Check out Dr. Mike Dow and CareerBuilder for some examples of the different types of conversation that fans want to engage in. Next, 27% of fans want the company to have access to their public profile and information. Even with all the talk of privacy concerns, people are still willing to share their demographic information and interests with interesting brands that they trust.

The one thing that seems slightly confusing is that 37% of users “do not expect anything to happen” after Liking a company. I guess these people are also the 37% who also want the name of the company to show on up their profile. This endorsement is not a bad thing but the hard part is keeping up with the work to retain their interest in your brand.

Let us know what you think about this study and if it reflects why you associate with brands on Facebook. You can also read our related blog post on how Facebook Likes affect retail businesses.

Matt Ramage is founder of Emarketed a web marketing agency located in Los Angeles. He loves coffee, good design, and helping businesses improve their look and getting found on the Internet.