Social platforms like Facebook and Twitter provide a way to boost brand awareness and reach potential clients.
To effectively measure social media ROI, brands need to develop a good plan to use social media as a marketing tool and understand how to measure ROI. Marketers need to define their online conversion objectives. Use analytics solutions to keep tabs on conversions.
Once the marketer has figured out what to measure and monitor conversions, they need to determine how much each conversion is worth and find out all costs. Analyse online conversion goals from downloading newsletters to submitting contracts.
Along with keeping tabs on conversions, marketers should also determine what factors motivate users to visit the company’s site. Further, quantify various conversion types to place a valuation on customers downloading a free ebook on the site or signing up for free newsletters. Then place a monetary value for each one to effectively measure social media ROI.
[5 minute read]