How can we see ROI within our social media marketing campaigns? Well, it’s actually very simple! In a recent article on Mashable, Todd Wasserman explains the 5 Dead Simple Ways to Track Social Media ROI:
1. Coupons and Offers
If you offer a coupon solely on Facebook, then you know with 100% accuracy that every coupon that customers cash came from Facebook.
2. Call Tracking Phone Numbers
Relatedly, another idea is to provide unique call tracking phone numbers on social media platforms like Twitter and Facebook to learn which channel drives the most leads and conversions.
3. Conversion Measurement
Conversion Measurement lets advertisers track the behavior of people who click through an ad. If a customer clicks and then goes on your site to register, then you have proof that the ad was at least effective for that.
4. Google Analytics
This won’t tell you what people are buying, but at least you can see if traffic is coming from Facebook, Twitter or Pinterest to your website.
5. Look at Overall Results and Then Work Backwards
Perhaps the simplest way to calculate ROI is to look at your overall sales and then attribute a boost at least in part to your social media advertising or activity.
Don’t Forget Landing Pages!
While these are all great points, I would also add that landing pages are a great way to measure social media ROI. In the same way that you can use unique coupons and offers for each social media site, you can very easily set up unique landing pages that correspond to a specific social media site. Additionally, these techniques not only apply to social media, but they can and should also be applied to more traditional forms of advertising such as Print and Radio.