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Track the Social Media ROI for Your Business

Gadzoog Group

If you are running a small to medium sized business (SMB), then you are probably getting increasingly involved in the social media networks as part of your online marketing plan. The amount of exposure that you can gain using this method of advertising online is tremendous, and takes little effort when done well. When added to your regular SEO plan, you can really get a boost on your conversion rates. The trick is to get an accurate read on the return on investment (ROI) for the social media methods, meaning you need to have an understanding how much profit are you making compared to how much time and money you are spending on the method. This helps you fine tune your approach to internet marketing. Sometimes you have a general feeling that the strategy is helping, but measuring it can be tricky.

Here are three ways that you can help yourself by making the analytics easier to sift through, and make it easier to see the effects of your social media campaign:

1. Unique landing pages: When you use unique landing pages for your social media advertising as compared with email marketing or direct mail or any other strategy that you are using for your online marketing plan, you can then easily determine how visitors found your site. When you only use a certain URL on your social media pages, it becomes immediately obvious exactly how many visitors found you this way, and then how many conversions resulted.

2. Specific download material: When you offer specific downloads to your social media network connections, you can also track how many times the content is downloaded. Whether you are using video, online tutorial, ebooks, newsletters, whitepapers or any other kind of content, you will have easy access to the numbers when the time comes to see how people are finding you, and how they are accessing and using your information.

3. Unique inquiry forms: One of the simplest, and most obvious ways for you to find out how effective your social media campaign is, and how large the ROI is, is to have customers fill out a short inquiry form while on your site, indicating how they found out about your business. Give them multiple choices, such as “social media,” “email marketing,” “search engine listing,” “direct mail” or “other,” depending on the various techniques that you may be using. Developing an inquiry form is something that is often part of a package when you use digital marketing agencies for help with your online marketing plan.

Keeping track of your ROI is very important, in any business venture. You want to know how successful your efforts are, and how effective your methods are. When your ROI is meeting or exceeding your goals, no changes are necessary. If things are falling short, then you can make adjustments as needed when you know the breakdown of the various methods and how well they are contributing to your success. If you are just trying a bunch of methods and hoping for success, you may find it, but you won’t know how it happened and how to be even more successful if you do not track the ROI for the various methods.

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