How to measure ROI in Social Media?

Standardized social media ROI is one of the biggest frustrations of business owners and one of the most frequently asked questions about social media. Fast Company indicated that 88% of surveyed marketing experts didn’t conceive they could correctly measure the usefulness of their social media campaigns. The real truth that social media has direct and indirect effects which are impossible to measure perfectly. While you can’t measure all SMM effects, you should still measure at least the one you can.
1. Start with setting your transformation goals. That could be:
a) Making online purchases;
b) Clicking on a link to trader’s website;
c) Spending more time on landing pages;
d) Signing up for a newsletter, fascinating in social media interactions.
2. Track Transformations:
a) Extend. Whatever your view on the number of followers is, the more people see your campaign, prove that your ROI is greater.
b) Traffic. Again, your ROI depends on find people on your website or another URL where transforms happen.
c) Social media generated leaderships. Here the problem is that you will only see leads that took several kinds of online action. You won’t see those people take any actions online but are still blooming to your product and may do offline purchases as a result of Social Media exposure.
d) Customers – leads that become customers.
f) Transformation rate. Tracking the percentage of visitors by social media platform tells you what’s really working and what’s not.
3. Collect incoming traffic and transformation numbers using Google Analytics. Compare with the financial value of those transformations.

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