Since measuring ROI on organic social media posts can be a struggle for some, we asked marketers who are successfully measuring their ROI to share how they discover it. Here’s what our marketers had to say.
Use URL tracking
To find your ROI on social media, you’ll need to track how much traffic your posts drive to your website—and ideally, how often that traffic converts to a sale. Jerry Haffey Jr. of Ambrosia Treatment Center says, “The metrics provided by social networks are useful within that platform, but it’s challenging to make real-world decisions with that data unless you can calculate your ROI. When we share a piece of content, whether it’s a blog post, an inspirational message, or a video, we use URL tracking. That way, we know the platform where they came from, and we can get a better idea about what is working and what isn’t.”
Directly ask how customers hear of you
Lauren Patrick of Motivo advocates for asking customers how they first came to know about the company, in addition to using tracking programs. “Whenever we have a new lead come in,” says Patrick, “we ask them, ‘How did you hear about Motivo?’ It’s been great to hear, ‘I saw your Instagram post’ or ‘I heard about you on Twitter.’ Motivo connects pre-licensed therapists with a supervisor to get the hours needed for licensure, and it’s been awesome to discover how active therapists, counselors, and mental health professionals are on social media. On the technical side, we use HubSpot, and the ‘Sources’ report integrates with Google Analytics to show how new contacts converted from social channels. Another tool I’ve used before for marketing attribution is Brightfunnel, which is awesome.”
Examine customers’ engagement
Engagement, or the likes, comments, and shares a post generates is a key measure of ROI on social media. Says Adrian Dolo of Team 15k, “To discover your estimated ROI, you first have to look at how many people actively interact with your content, and have clicked on links you might’ve posted in the past. Also, the number of people that comment under your post, if not in engagement, can help you determine who is ready to be monetized. It is all about your engagement, that is why it is best not to fake it!”
Track time and money investments, and compare to goals
According to Cristina Maria of Commusoft, “An easy way [to measure ROI] is to see how many posts per week you need and how long it takes your team to produce these. Then consider their $/hour rate and compare it to your social media goals and how close you are to them. For example, if a 2% increase in social media website traffic referral takes 3 hours of work per week, then this has cost you 3 x $/hour in sheer man-hours spent on the task.
Use Google’s and Facebook’s tools
The tools built into Google Analytics and Facebook are extremely valuable for ROI tracking. Dustin Radin of Online Visibility, Inc. advises: “Make sure you have Google Analytics set up on your website to track referral traffic from Facebook. Secondly, install the Facebook Pixel on your website and create custom events for specific pages you want to track. You can also create campaign tracking URLs in Google Analytics that will track clicks and conversions from specific buttons or links in your Facebook posts.”
Multi-pronged methods
Rio Rocket recommends multiple steps and measures for tracking ROI, across different content types: “Accurately measuring your ROI and conversion rates on content is challenging, especially when we’re discussing external content outside of your website. Since you don’t have the benefit of analytics software when marketing content through outside channels, the strategy I have personally developed for both clients and myself is to embed incentivized tracking data into your content marketing CTA.”
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