Measuring ROI of Social Media Campaigns
There seems to be quite a bit of confusion regarding how to Measure a Social Media Marketing Campaign. Your boss may even have asked you what the ROI was for the money spent. Unlike Google Adwords which are targeted to potential customers when they are ready to buy a product like you have to offer, Social Media Campaigns cannot be evaluated directly by immediate sells or leads. However, that does not mean that they fail to be a factor in gaining new clients and ultimately growing your business.
In fact, social media has become a critical factor that Google uses to rank your website for Quality Score and User Experience which both affect your search results. Starting back in 2012 with the Penguin Algorithm updates, inbound links took less of a role in search ranking and was replaced by social media footprint. That really aligns with the intent of social media which is interacting with your audience by giving them useful information regarding their businesses. This information serves to promote the reputation of your company at the same time.
Better metrics for a Social Media Campaign might be Engagement, Number of Shares and Increased Followers of your Facebook Business Page. In today’s fast-paced instant messaging life, a potential client’s time is the best gift of all. So if you continuously provide content of value to a business owner and they begin to follow what you are saying, the conversation eventually pulls them into your leads funnel when they or someone they know have a need for one of the services you provide. That is truly how social media can work for your business to eventually drive traffic to your websites and increase your bottom-line!