ROI as a metric to measure the success of social media is problematic.
Social media doesn’t typically generate fantastic ROI versus other channels because social media is about conversation not broadcast. But just because an activity doesn’t have tangible ROI, doesn’t mean that it’s not valuable.
With over 1.4B users on Facebook, companies of all sizes continue to flock to the platform driving brand awareness, leads and revenue. While Facebook offers industry leading targeting, tracking and analytics, there is one offering that isn’t being taken advantage of by the majority of Facebook marketers.
Facebook’s organic reach has drastically declined. That’s a fact. When reach declines, it often feels impossible to get your fans to engage with you on your Facebook Page. It’s really a Catch 22: Low engagement means less people see your posts (this lowers your reach), but you can’t increase your your reach if you don’t increase your engagement. It’s maddening!
Mastering hidden Facebook features will help you get ahead of your competition.
Managing an active and successful Facebook page with a thriving community can be a daunting experience. As your fanbase grows, so does their insatiable appetite for content. Coupled with their comments, messages, questions, issues, etc., the time spent managing your page can grow exponentially.
One of the hardest things for most so-called social media consultants is to show the ROI of utilizing social media to their clients. If your consultant can’t show you the ROI, it’s time to find a new social media “expert.” I want to start off this blog by giving a simple way to track social media return on investment (ROI).
Quick: which social network is bringing in the most traffic to your website right now?
It’s OK if you don’t know off the top of your head. (I don’t memorize that sort of stuff either!) But wouldn’t it be great if you could pull up the answer in just a few seconds whenever your boss asks you this?
What about revenue broken down by social network?
What about the percentage of traffic generated by social versus email?
You can track it all, and you can track it for free: all you need are Google Analytics and a little bit of UTM link codes.