Social media has become a crucial channel for marketers. It can help you boost your brand’s reach, generate leads, build a loyal following, and remain competitive.
But can you prove that your social media efforts are generating results?
It’s extremely critical for you to validate if your social media efforts are contributing to your overall business goals. Furthermore, it will be a waste of resources and time if you spend on marketing campaigns that give you no significant returns.
That’s why I’ve put together this guide to help you evaluate and improve your social media marketing ROI (return on investment).
Let’s take a look at a few ways you can use to improve your campaign ROI.
Define your social media marketing goals
Most of the time, when you think of ROI, your mind thinks of the amount of cash earned. However, you don’t run social media marketing campaigns to increase sales every time.
Other social media marketing goals include:
- Raising brand awareness
- Community building
- Providing excellent customer service
- Optimizing ad spend
- Increasing traffic to your website
- Increasing the number of sign-ups, trials, and downloads
In order to evaluate the ROI of your social media efforts, you need to determine what you want to achieve with your social media campaigns. This can help you allocate resources and time to each strategy and platform carefully.
Track and measure your campaign’s effectiveness
Setting actionable goals can make it easier for you to track the effectiveness of your social media marketing strategies based on what actions your audience takes.
You can use social media marketing tools to track your brand’s social reach, engagement rate, traffic driven to your website, and sales generated. They can not only help you track ROI, but also enable you to schedule your social media posts.
The insights you get by measuring results will enable you to evaluate what’s working and what’s not. You can then modify your strategies to improve results.
However, this is not a one-time job. You should continue to test the efficacy of your strategies and make changes so that you can boost your campaign ROI.
To learn more, check out the infographic below that was first published on ShaneBarker.com. It offers more tips and tricks to help you improve the ROI of your social media marketing campaigns.