Most social media brands are measured by their amount of followers, likes, views, or subscribers. There are a variety of ways you can measure the effectiveness of your brand online, but it all depends on the platform. For some, referral traffic from social media is the key indicator to the effectiveness of a campaign. A good measurement to define their success. But the simple question is, how do you calculate social media ROI? How do you know when good is good!
There is no common denominator in measuring your social media ROI. What can be a hurdle is identifying the behaviors of your traffic, and understanding the effectiveness of your social media marketing efforts.
So what’s the best way to go about the problem? Here are five steps to properly measure the effectiveness of your social media strategy.
Profit / Investment x 100 = social media ROI %
Although calculating your social media ROI is hard and vague, it isn’t impossible. Was this article helpful? Sound off in the comments below.