Social Media ROI [Infographic]
Social Media is the sites you share on, like Facebook, Instagram, Pinterest, etc. ROI stands for ‘Return on Investment’, the amount you are receiving in return for what you have invested.
The return of investment (ROI) has many way to be measured depending upon the goal you have set for your social media campaign and interatctions.
Return on investment could be the number of new subscribers you receive from your campaign, or the number of likes you get from people that have not liked or interacted with your posts previously.
And, of course, it can be the amount of money you receive from a campaign, a certain series of posts.
Your investment can be your money or your time, or both, depending on the organization or if you are an individual.
Starting Point for your Social Media ROI
Again, for each campaign, each organization or individual this may be different, but the important thing is that you know what that starting point is, have a goal, and a date that the campaign will end. Knowing these things helps one compare campaign to campaign, know what is working, what needs tweaking, what may need to be completely trashed and started over.
Be prepared to do the numbers, there are services that can do most of this for you, but it is up to you to ensure that all the numbers are timely and accurate.
Let’s take a look at this infographic on Social Media ROI Tracking and Monitoring…
The World of Social Media Monitoring and Analytics
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You should now have an idea of how you are going to start your campaign, and then how to track it.
To look into more about maximizing your Social Media ROI, here are some good starting points:
- Social Media ROI: Managing and Measuring Social Media Efforts in Your Organization (Que Biz-Tech)
- How to Measure Social Media: A Step-By-Step Guide to Developing and Assessing Social Media ROI (Que Biz-Tech)