Promoting your brand across social media channels does more than simply raise awareness for your company’s products or services. Unfortunately, even many digital marketing pros tend to overlook the power of a well-crafted, goal-oriented social media campaign.
Accurately assessing your social campaigns can help you see how to leverage social media for a better bottom line.
How to measure ROI on social posts
When it comes to measuring ROI from your social media presence, these numbers can be notoriously hard to track. But, you need to know where your conversions are coming from. What’s a struggling marketer to do?
The following tips can help:
- Define your goals
According to recent surveys, up to 60% of professional marketers are at a loss tracking ROI on their social media activity, mostly because they simply don’t know what their objectives are. Goal-setting – either by channel or by campaign – is crucial in this regard, and the types of content you share will be driven by these goals.
- Track behaviour
You need access to specific, actionable data in order to measure page clicks. Link tagging with UTM codes and Bitly can help you compile the tracking info you need to figure out the source, medium, campaign, content, or ad of each click. It’s tedious, but it’s necessary to move on to the next steps.
- Use Google Analytics social tracking
If you haven’t already, go to the ‘Social’ heading from the ‘Acquisition’ section of your Analytics dashboard, then click on ‘Conversions’. This will give you immediate access to improved transaction tracking and an ROI summary.
- Crush conversion bias with attribution reports
A user’s last touch point typically gets 100% of the credit for a successful conversion, and it’s rare that social media converts a direct sale. Using a model comparison tool can give you valuable feedback on where users are engaging the most along your chain to help eliminate conversion bias.
Tracking social media ROI is a struggle even for experienced marketers. But by following a basic plan and putting some effort into setting up the right tools, you can not only measure social ROI more accurately, but also improve your bottom line with targeted, streamlined campaigns that work.
