ROI on Investment in Social Media
There is a lot of talk in the industry around ROI and what that really means.
ROI stands for Return On Investment. Therefore, if you are making more than it costs to hire that person then it is a good return on investment. For example my prices are £597 per month at the time of writing this blog. Therefore, if I drive more than that cost in business for you, do you think it is worth it to hire me?
How do you know what business I am driving for you? After all the organic work (ie:non paid for services such as ads) that can be hard to quantify. In simple terms, my job as a SMM is to create the engagement on your social media so people click from Facebook onto your website and make a booking. BUT… if you want to get complicated, you have to take into consideration an attribution model especially if you have other people working on the account in different areas.
The way to track that is to make sure Google Analytics is set up correctly. You want to be able to track where people are coming from and what they are doing when they get to your website.
Analytics will tell you exactly how many people are coming from Instagram, how many are coming from Facebook and what they are doing when they get there. You can even set up a goal so that you can see exactly how many people from that source did what you want them to do when they are on the website I.e. Make a purchase