How Exactly Do You Measure Social Media ROI?

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We all know using social media is a great way to promote our business, but how do we understand what returns we’re getting from it? Unfortunately, there is no common denominator when measuring the return on investment (ROI) for social media. However, tracking the success of your efforts is not impossible. Below are a few steps to help get you started.

Define Your Goals

Before you begin to measure your returns, you need to start by defining your goals. Are you looking to attract new candidates or clients? Perhaps you’d like to increase overall traffic to your website or raise brand awareness. Once you’ve set your goals, it’s important to quantify them. If your goal is to gain new candidates, determine the number you’d like to get over a certain time. For example, you’d like to find five new candidates to fill job orders in the next month. By assigning a certain number, you can better understand the impact of your social media efforts. It’s important to set your goals based on actions that will convert into leads, and, ultimately, a new candidate or client.

Track Your Goals

Now that you’ve defined your goals, it’s time to track and measure them. One way to do this is to set up Google Analytics. This is a free tool that allows you to view statistics such as how many people have visited your website and where they came from. A great feature is the ability to see how many people visited your site through social media. This is a great way to help you figure out which channels are working best for you and driving the most results. You can also see what pages visitors to your website viewed the most.

Related Content: [Lunch with Haley] Understanding Marketing Analytics

Now let’s look at examples of tracking specific goals. If your goal was to increase the number of applicants, and you have been posting links to your jobs page, you can see exactly how many people have visited that page. Maybe you’ve been writing and posting original blog content and optimizing it with keywords to help increase traffic to your website. Google Analytics allows you to see how many people found your site through search engines by typing in keywords pertaining to your business.

Make Adjustments

Once you’ve figured out what does and doesn’t work for you on social media, it’s time to make adjustments and improve your strategy. One of the main purposes of tracking social media ROI isn’t just to prove your campaigns are valuable, it’s to consistently increase their value over time. You’ll want to go back and look at the goals you set for social media and evaluate how they support the overall goals of your company. At the end of every month, take a look at your analytics and make adjustments as needed.

Remember, it’s not enough to just post on social media, you need to have specific goals, and they should align with the overall goals of your business. It’s also critical to constantly evaluate and adjust your goals as needed.

If you have any questions about how to get the most out of social media, we can help! Contact Haley Marketing for all your marketing or social media needs.

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