For people who spend hours on various social media platforms and still haven’t had an idea of its success, then it is time to implement a strategy that measures social media ROI (return on investment).
ROI is basically a proof that you have employed the right marketing tools for your product and is working successfully. In a generation where client satisfaction holds utmost importance, they have the right to know whether you are successful or not and so do you. The main aim of the ROI is to make the clients believe that they are getting the best possible return out of their investment in your services and thus, their money has not proved to be futile.
As business houses, being able to validate the provision for resources is completely a necessity which however, isn’t an easy task. The easiest way to track your social media success is by keeping a record of the number of conversations on websites that feature on your social media account and thus, gauging your marketing effectively.
A few effective and easy to use ways have been discussed below in order to compute your ROI without much annoyance.
- Conversation measurement –
– Social media giants such as Facebook never set a limit on the number of users associated with a panel. Instead, they allow people to advertise through them and as soon as a person clicks on that add and goes on to buy something, it proves to be effective. Also, already knowing the tastes of the people or who has clicked what makes the ads even more effective as they bring to the customers, any future ads in the form of emails or notifications. This marketing tool is employed by almost everyone nowadays.
- Social interactions –
– They still hold a prime importance for any customer wishing to invest in your brand albeit the fact that measurement seems to have been overshadowed by the number of likes or comments on a social website. The number of likes, comments or tweets pouring in to anything that you post online takes a bit of time to go viral. However if viral, the message has a wide outreach. In fact, an account of your number of likes or comments on social networking site estimates how far your message has reached and whether it was effective in reaching the ears of the people.
- Generating traffic –
– A website analytic can clearly show you the real picture of how hit your page is or how often is it searched on Google, Facebook or Twitter. However, it is not so easy to through light on the how much traffic these social websites generate or how much that traffic actually costs them. Nevertheless, none of the social media ROI are comprehensive or perfect in any way. Based on your current ROI you can set benchmarks for your future goals and thus, achieve them.
Changing dimensions of Social media marketing
Day after day there is no stopping to the soaring trend of social media and the endless benefits which people can avail to. Social media marketing is so well cobwebbed in our daily lives that one cannot just get over its unending advantages. A few of the purposes that social media platforms fulfil have been mentioned below.
- A whooping 76% of the enterprises are signed up with social media for a fruitful business.
- Marketers have even gone aboard and have begun investing in plans for a better marketing of their services and products. This figure was estimated to be around 64%.
- As many as 11% businessmen are content with the use of social media in their businesses, and are said to have been associated with it for a little over 3 years.
- However, 9% businessmen have admitted using social media only recently. They are still new to this idea and hardly, have an experience with social media of nearly 1 year only.
The best part about this data is that 96% of the customers feel that they the leave behind the web metrics and social media goals published online and instead identify the value of each of them themselves by working together with them on various projects.