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How to measure the ROI of your social media campaigns

by Staff writer
22 Dec 2020 at 05:49hrs | Views
One of the most significant marketing strategies in today's time is perhaps leveraging social media platforms to reach the target audience. You can find almost everyone on social media nowadays. Thus, the transition from offline marketing to building online campaigns was pretty quick.  

The core aspect of a digital marketer is perhaps measuring the results and ROI that these online campaigns are bringing. This ROI will help you determine if your strategies and marketing efforts are contributing to the business in any form or not. If not, you know it is time to work on them. To be fair, social media is not a walk in the park. On a contrary, it is perhaps a difficult beast to tame.

Apart from social media, there are also plenty of other projects that social media managers are often required to take care of. Measuring ROI, keeping a check on all the marketing efforts, and juggling several projects can be difficult. Thus, project management software will perhaps be the best solution. You don't really have to choose the best software for project management out there. You can always start with the cheaper versions.

How marketers can measure the ROI of their social media campaigns

Google Analytics

Google Analytics is perhaps the most powerful tool known to mankind for measuring the return on investment or the return on the amount of money spent on ads. This tool is useful to learn a lot more than just how much of the engagement your posts are bringing in.

With the Google Analytics tool, you can get social reports with which marketers can determine the true impact of social actions. It is a tool to find out the social networks that are working the best in your favor and how exactly social can start resulting in conversions.

Google Analytics reports for social platforms are well-detailed. You can see users actually visit your site aka your network referrals. You can figure out how many different social networks and visitors your platforms are bringing in.

The Data Hub Activity section helps you learn about the number of people who are saving, sharing, commenting, or linking your content across various sites. You can also find out the information related to your landing pages, their popularity, and the pages that are receiving the most views.

Built-In Analytics Tools

Each social media platform, from Instagram to LinkedIn, is well-equipped with built-in analytical tools. These tools help you learn about how well or poor your certain campaign is performing. You can make the changes in your content, art, or target audience accordingly.

These tools were built keeping in mind the needs of marketers to measure how their social media is performing. Built-in analytics tools help you monitor and track engagement on your posts, number of likes, shares, and even the number of people who saved your post to go through them in the future.

It is one of the most helpful features for marketers. A few of the common names are Facebook Insights, Pinterest Web Analytics, and LinkedIn Company Pages Insights.

However, such tools are only handy to learn about your performance. They are of very little help when it comes to learning about how they are contributing in regards to conversions.

Facebook Offers

Everyone loves discounts, sales, and free items. Facebook Offers plays on exactly this emotion. With Facebook Offers you can get a glimpse into how exactly your actions on your social media pages can impact or affect your physical or offline sales.

How? Facebook Offers is equipped to offer some insights by offering coupons to the patrons online that they can redeem offline.

With this, marketers can easily experiment how exactly can social media efforts be monetized into store purchases. These offers are somewhat similar to AdWords which lets you add some discount coupons to the Google ads that you run.

One thing that every marketer should keep in mind is that not every effort can be measured. For instance, you simply cannot measure the relationships that your social media actions are building with the audience. You never know, you might be building a long-term relationship with a prospect who will indulge in repeat sales. It is an ROI that cannot be measured.

Conclusion

ROI plays an important role to learn about the performance of social media actions of marketers. The insights and analytics will help you figure out if what you are doing is right. If not, be ready to make the necessary changes. Social media is a game of trial and error. Do not give up.


Source - Byo24News

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