Try It ! beBee Fun Tricks - Calculate your social media ROI !
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![HOW TO MEASURE ROI IN
0 [VV [0]
CAN SOCIAL MEDIA PRODUCE ROI IN
DOLLARS, NOT JUST SOME Fuzzy
“AWARENESS” AND "CONNECTIONS"?
nues] started using
Twitter as a direct order channel with customers. Result
20%-30% increase in sales and marketshare via Twitter
Vitablotics (£80+ n annual revenues] built a community
00 via Twitter, Facebook and blegs for feedback on new
before going to market. Result: $100,000 savings vs
t al research and test marketing, 95% completion rate
on new product trials.
viraiorics
PILL CTE annual revenues] used Twitter to geo-
ocate upscale stores featuring its shoes. Result: 33% increase
n sneaker sales, 40% increase in positive tweats and mentions
about the brand
6 STEPS TO MEASURE ROI
Company X has found that downloaders of their ebooks are excellent
sales leads about 11n 10 become customers. So, marketing is
implementing a social media promotion of their new ebook, “Make
More Money!!!” on Facebook, Twitter, Linkedin and Instagram
@WO®
SET YOUR
CONVERSION GOALS
Different organizations and campaigns will have unique social media
conversion goals. But in all cases, you'll want customers to take a
measurable action that ultimately has monetary value
Make online purchase
Fill out contact form
Use online quote feature
Click on link to dealer website
Sign up for newsletter
Download PDF
Spend time on important webpage
Engage in social media interaction, e.g. share, like or follow
VOR
COMPANY X'S CONVERSION GOAL
DOWNLOAD "MAKE MORE MONEY!!I”
TRACK CONVERSIONS
How you track conversions will vary with your social media platforms, IT
systems and conversion goals (and budget). But google analytics and
built-in trackers on many social media platforms will cover most situati
and there are a lot of great apps out with more sophisticated tracking.
REACH
The more Twitter followers, Facebook fans, Linkedin group members.
etc. that you have, the greater your ROI for any campaign or promotion
Reach can often be tracked within the social media platform
TRAFFIC
Getting visitors to your website or
PTT mE Eee
ERY FY SIP PUNERIENSRYE ey
LEADS
Maybe the most important social media
fT Trey
coming from each referring site.
METRICS
FOR SOCIAL s CUSTOMERS
MEDIA ROI OR prey
LEER REE REET)
FRILL
CONVERSION RATE
Tracking the percentage of visitors by social media
platform or promotion prece tells you what's
re what's not
ASSIGN MONETARY VALUE
TO EACH CONVERSION
METHOD 1 METHOD 2
USING HISTORICAL DATA GUESSTIMATING
If you kn he lifetime value (LTV) of t have historical data, use
each cus er, it's e n S rience. For
track for conversion value. For
example, if your average lifetime
customer value is $200, and you know
that 1in 20 people who view your video
become customers, then the value of
sitor to view the video is $10
COMPANY X EBOOK DOWNLOADERS WHO BECOME CUSTOMERS
AVERAGE LIFETIME VALUE (LTV) PER CUSTOMER
VALUE PER DOWNLOAD OF “MAKE MORE MONEY!!!"
MEASURE TOTAL BENEFITS
AAT] [8
Collect incoming traffic and conversion numbers by site from your
analytics tool. Create a spreadsheet that correlates that data to the
total monetary value of those conversions.
For offline conversions or to track
yi particular images, for example, direct
visitors to special URLS or to use
promotional codes in their orders.
or
AN
“MAKE MORE MONEY!!!" BENEFITS = $17.50 X
DOWNLOADS RL CTRL LTE TY
KAY. ESRI
Try 3:0] $10.150
py) $3,535
198 $3.465
LX $72,695
COOEe
DETERMINE TOTAL COSTS
Add up promotional account fees, labor costs
and sundry costs by social media channel.
LABOR LABOR COST COST PER
FEES LOURS SSOPERHOUR CHANNEL
L100 JA] EFA] $20,500 ©)
$135 LY ER) LX RkL ©)
-- LET] $750 EYAL) ©)
= 300 EIR $15,000
CTR IRR $6750 $68,135 @
ANALYZE RESULTS
AND IMPROVE
BENEFITS - COSTS x 100
COSTS
FS) PERCENTAGE RETURN ON
WO» THE INVESTMENT COSTS
Use the data from Steps 4 and 5 to calculate the ROI per social media
channel. Now you have results per channel and for the campaign or
promotion as a whole to share with management and clients, as well as
data to improve your social media marketing efforts.
BENEFITS COSTS ROI
$55,545 EXON 171%
S $10,150 EYRE E10
© LXE LY) EX
$3,465 BILL Era)
© 7%
$72,695 $68,135
COMPANY X IS DOING WELL WITH FACEBOOK (171% ROI) AND WOULD
DO WELL TO FOCUS FURTHER EFFORTS ON THAT PLATFORM.
QUICKSPROUT
RESOURCES
Social Media Examiner
Think Digital
Sales Force Marketing
Entrepreneur
Wikihow
Hubspot
Mobilemarketing Watch](https://contents.bebee.com/users/id/12967365/article/try-it-bebee-fun-tricks-calculate-your-social-media-roi/_5ce55390-950.webp)
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Let's start today with this Infographic On ROI + use this link to calculate it !
"""
Articles from stephan metral 馃悵 Innovative Brand Ambassador
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