Wednesday, November 27, 2013

The ROI of Social Media

This phrase always pops up and people prefer to ask the pointed question, “Is social internet marketing worth the effort? ” I really believe we all need to measure social media like the they are doing with street billboards. Is there a way to understand how many people viewed your billboard in a day? The number of of those people came into your business for that reason street billboard sign.

Now, the most crucial question you need to ask people is actually

“How Did They Find/Hear With Regards to Your Company?”

This one phrase can help you understand how complex this notion of social networking roi is. In addition, it may demonstrate that social media is a small part of your marketing strategies.

Social Media ROI

There is certainly ROI from many standpoints:

  • More outreach with personalisation - You are able to connect on a national degree
  • SEO - With GooglePlus you can see much more or perhaps a return on your organic search results
  • Keeping a message in front of people - Linkedin
  • You can create  your own professional brand and people will connect a person together with your company.

The trick is looking in the best place to measure it. I used to take a look at ROI from number of likes, retweets, followers and the actual like. However, I could not the actual correlation to corporate dollars with this particular information. Instead, I focus on a new group of metrics which helps me see overall, (this is vital point) whether my traditional marketing approaches and newer marketing techniges make a difference.

New Group of ROI Metrics

The new set of metrics for me personally are:

sales | new customers | current clients | customer phone phone calls

Group #1: Product Sales
If your sales are falling, you have to find more clients quickly to reverse the excitement. If sales are trending upward, you have to continue to be at the forefront of the industry. Your job never ends.

Group #2: New Customers
You need to insure that people are curious about your service offerings and they want to learn more your company. Also, this is where it is simple to ask the question, “How did heard about our company? ”

Group #3: Current Customers
Take care of these people. Still engage them and be in contact them with associated with visits, letters, emails, etc. This type of person the lifeblood of your company.

Group #4: Telephone Calls
I think it is advisable to have your own phone number in each marketing brochure, website, e-mail, and so on People still want to talk to people. Track the number of calls are coming in.


Each company needs to discover a way to measure their return on investment. It is possible and you need to start somewhere. Look for a process that works for you and begin evaluating the numbers. It really is that simple.

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