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There’s a popular misconception that it’s difficult to use targeted metrics to measure social media’s return on investment (ROI). That’s not true. Nor is social media only good for measuring brand awareness.
The fact is social media can offer some of the best metrics for measuring ROI. All you need to do is set your success guides—what you want to achieve and how long it will take—and measure your results against them.
Here are six simple metrics for the main social networks that you can use to measure your social media ROI across earned, owned and paid media:
1. Blogger outreach
A key component of many (if not most) social media campaigns, blogger outreach programs can offer some of the best results of any marketing tactic. Measuring your success isn’t too difficult, either. All you have to do is determine the answers to the following questions:
Twitter not only offers instant eyeballs, but great returns. Again, measuring your impact is relatively simple:
Although it has its critics (including me), Facebook offers some great built-in tools and demographic options to help gauge a campaign’s success:
While we don’t quite know the effectiveness of brand pages on Google+ and in-line Google Ads complement Google+ content, there are ways to measure your activity:
5. YouTube and other video sites
More than just a fun place to see kids hurt themselves on bikes, YouTube is a key tool in any marketing campaign—just ask the companies that used it during this year’s Super Bowl.
Here are the questions you should ask:
As marketing evolves, the different ways to reach an audience combine to create new outlets. Mobile marketing is the perfect complement to social marketing, and is easy to measure:
These questions offer just some of the immediate ways you can measure your social media success. There are more ways to measure your success, including monitoring tools and more defined analytics. Which ones you use will depend on the goals you’ve set and how you define success.
No matter how you collect the information you need, it all comes down to comparing man hours and financial outlay to your return.
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