Three Steps to Measure Social Media Marketing ROI
Social media ROI is a measure of the benefits delivered by social media marketing campaigns compared to the total investment on these campaigns — including money, time, and effort.
HubSpot contributor Marcus Andrews has published an article featuring three useful steps to measure 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.
How does this happen? Typically, social media marketers build an AdWords campaign to rank for important search terms. The campaign drives clicks, traffic, and leads, but ultimately the ad spend outweighs the impact of the ads which is bad news for ROI.
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.”
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