Social Media ROI
Social Media Return on Investment (ROI) is a topic sure to get more attention as more companies slowly but surely learn to leverage the power of “Social Media” for growth.
Moving your organization into the “Social” World is not an easy task. Social will only have a long term lasting impact if you measure and take action on results.
There are multiple levels of activity that need to be measured in order to know how well you and your company are doing by activating “social” across your organization. Here are some of the more important measurements but this is not all of them.
How Many Posts Do You Need To Post Per Week?
1. How many posts do you put on company social platforms per week, you know those icons on your corporate website?
– Is it 1-3? This is not good enough
– Is it 3-5? Getting there
– Is it 5-10? Now you’ll get some traction!
2. How many of these “social” posts were shared and targeted (account-based marketing) by your frontline teams?
– Is it 10 – 20%? This is not good enough
– Is it 20-50%? getting there
– Is it 50-80%? Now your getting results
3. How many of these posts are being tracked for their results by way of the activity they develop?
– Is it none? Than why are you doing them?
– Is it some? why not all?
– All, good.
– No idea as we don’t ask. This is not good enough
– some but not sure of the actuals. Still not good enough
– We track all of them and can see the activity for all posts, shared and targeted. That’s the right answer!
5. How many posts do your front-line people put up on their own / week?
6. What are the results of your team’s social efforts with their own content?
– We have no idea as we don’t ask. WRONG!
– We are not sure of actuals, but they say their getting results. NOT GOOD ENOUGH
7. Lastly and most importantly. What is the value of the new sales you have developed by adopting social across your company?
– We are not sure as we don’t measure. Again, then why are you doing it!!
– We think we are getting good results but not clear. This is a measurement issue.
How can you know what your ROI is, if you are not tracking your sales? Again, if you do not have these tools, ask me and we can help you with that.
Bottom line is that you should be able to put a dollar amount on your return for all your social activity. It’s not good enough to just be social! Ultimately the ROI will provide all the evidence you need but only if you measure all activities.
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