Guide to Measuring Social Media Marketing ROI
Social media ROI is a measure of the benefits delivered by social media marketing campaigns compared to the total investment in these campaigns — including money, time, and effort.
HubSpot contributor Marcus Andrews has published an in-depth article on measuring social media marketing ROI.
He says, “One of the most popular and data-driven ways to measure social media marketing ROI is through paid advertising. The problem arises, though, when there isn’t a sound strategy in place to yield a positive return on investment.
These marketers end up learning a really expensive lesson, one that could be easily prevented by following these simple steps:
1. Develop a Budget.
Ads aren’t right for everyone. Some industries have extremely high competition with astronomical CPCs. Some products have too low of an average sales price for the economics to work.
To determine if ads are worth your time, start by building a budget. This isn’t always an easy task, especially considering the hit many marketing budgets have taken over the past two years.”
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