The Return on Investment (ROI) of social media marketing can be difficult to pin down. Results can’t be guaranteed, and there is no way of knowing how your audience will react to the things you share online. While ROI proves that your marketing efforts are successful, it will only do so if you’re tracking and measuring the right things, and have ruled out other influencing factors. Here are five ways to troubleshoot your social campaign’s ROI and measure your results more accurately:
1. Use a spreadsheet
Facebook Insights and Google Analytics are a great way of monitoring your campaign while it’s live, but using a spreadsheet offers more flexibility where measuring your long-term progress is concerned. While you can probably find suitable templates online, creating your own and tailoring it to your business objectives is usually the best idea.
Designing your own spreadsheet allows you to track metrics that Facebook Insights won’t track for you — like positive and negative sentiment, customer service inquiries, and engagement with influencers.
Even if your social following is small, and your campaign could probably be managed well enough using Facebook Insights or Twitter Analytics, it’s more efficient to implement good tracking and measurement practices before you need them. This will make it much easier to adapt when your business expands.
