How to Track ROI for Social Media

Unlike search engine optimization and pay per click advertising, social media marketing can be a tough cookie to track in terms of social media ROI. Considering how difficult tracking social media ROI can be, many are wary of investing time and resources into social media efforts. But, tracking ROI for social media is easier than you think. So, sit back, relax and let us guide you in creating the perfect formula for seeing real ROI on all things social.

Establish Your Goals

First and foremost, before you even think about content creation, you need to establish goals for your company. Ask yourself, what do I want to gain out of this? ROI can mean something completely different for each company. Is your goal to increase or build brand awareness, drive sales, or establish effective customer service? Lay down the foundation of your social efforts by establishing goals.

Begin Tracking Your Goals

So, you decided what goals align with your company, now it’s time to focus on what you should be tracking. For example, if your company wants to focus on building brand awareness, then it’s time to get analytical. This means tracking the number of followers you have, reach, impressions, and overall engagement as metrics of your social media ROI. Or, if your goal is to drive traffic from your Facebook page to your website, then you’ll need to create a Facebook Pixel and track it within Google analytics. By creating a Facebook pixel, a code that you place on your website, you can track conversions from Facebook ads, build targeted audiences, and establish qualified leads.

Use Tools to Help Track ROI for Social Media

Lastly, there are plenty of tools and third-party sources that can help you keep track of ROI for social media. Some of which are already in your possession – say what?  Yes, you may already have useful tools to help track social media ROI! If you have a Facebook business page, Facebook offers their own insights to help you keep track of the number of impressions, reach, and engagement you receive for each post. Other tools include using social media management and optimization platforms such as Sprout Social or Hootsuite. Oh, did we mention you could also outsource someone? Like, I don’t know, Tandem Interactive, for example?  Outsourcing social media marketing services can truly impact your brand for the better, but we’ll blog about that later.

Contact Tandem today for premier social media services to increase your digital presence.

Related Reading:

How to Sell Social Media Marketing 

How to Track ROI on Social Media Marketing