Do you know what is the ROI of your Social Media campaign? It is really essential to measure the ROI as every SME should know the effort he or she is spending is worth the money and time. There are some more reasons to know the ROI of social media campaigns like,
Time & Money –
As we mentioned initially, if you are spending money as well as time at some work, it needs to be valuable and the value should be provable, possibly by tracking the company and team goals. If it doesn’t then you must question yourself ‘why you are doing it or why you are running a campaign? Without being too existential about it, the majority of people work for an enterprise that has some sort of goal, with metrics, from there, they can check the drop down effect of teams, departments, and individuals focusing specific objectives/KPIs/metrics/ anything you call them, is pretty common.
If you are counting retweets, repins and likes under ROI then there are a few important considerations, which should be applied, such as –
- Do you know what a given number of Likes/Pins/Retweets or whatever you receive in terms of accomplishing your total revenue or company objective? How it helps to grow conversions, sales or lead generation?
- Do you know that the mediums you are using are the best and suitable channels for your brand?
- Do you know that you are successfully allocating the exact amount of time for each channel based on the ROI of your brand?
The Channel, the Method and the Message –
If you are not keeping a track of the ROI of your social campaigns, you might don’t know what is working and what not, and why. But actually you should know about it because this is the way how you will do the better marketing, gain higher ROI and a planned understanding of what kind of mixture of channels your brand requires to target the audience.
Channel – Channel you are utilizing to allocate your marketing. This contains things like Pinterest, Twitter, Marketo, YouTube, SlideShare and more.
Method – The method is the form of asset or content you have created. Examples like image, email, white paper, case study, video, landing page, e-book, and podcast etc.
Message – means campaign or main theme you want to convey to your target audience. This is how you evaluate the efficiency of your campaigns, in spite of the mediums and methods you have considered for them. This comes in handy when you add new methods or mediums to a campaign and things either go flop or hit – you can point out what particularly wasn’t working and make real adjustments.
Check the report –
If you are investing your lot of time on social media campaigns, then you must know what how they are working for your brand and how to take advantage of it! Whether you are in-house marketer, an agency, contractor or executive, if you are not aware of the ROI of your social media campaign or expense that means you are not checking the report, which might be inaccurate. You can bet that if your social media reporting is incorrect that means it’s incorrect elsewhere.