Nobody willingly throws money down the toilet, but if you’re not tracking your social media marketing ROI – you might be doing just that. Marketing is never completely devoid of forward movement, because though your social media campaign might not lead to a single sale – you might have introduced your brand to a bunch of future customers. This makes tracking ROI over time quite a challenge. Regardless, track it, we must, as this is one of the only ways to hold your marketers and the content they produce to account. So, what is social media marketing ROI, and how does one successfully measure it?
Returns On Investment
Like most returns on investment, social media marketing ROI refers to the number of resources recovered from investing resources into a social media marketing campaign. In a general sense, social media ROI measure all social media actions that create value, divided by the investment your brand made to achieve said value. The formula to figure social media marketing ROI is:
Value / investment (ad spend, people hours, etc.) X 100 = social media marketing ROI