Key Metrics For Measuring Social Media ROI - Neoma Media

1. HomeServicesAboutCaseStudyBlogsContactUs SocialMediaMeasuringSocialMediaROI:KeyMetricsEveryMarketerShouldTrack TableofContents Measuring Social Media ROI: Key MetricsEveryMarketerShouldTrack SocialMediaApril11,202410Min 1.Whydoweneedkey… 2.SocialMediaMetricst… 3.Conclusion RelatedPost Social Media MarketingStrategies:A Comprehensive StrategyGuideforAll Marketers April16,2024 MasteringtheDigital MarketingFunnel April4,2024 TheFutureofSEO:How AIisTransforming Search Engine OptimizationStrategies February14,2024 TopSocialMedia Trendswhichwillboost your Performance in 2024 January19,2024 LinkedIn:Incredibly Powerful Hub for GeneratingQuality Leads January12,2024 How Marketing Techniquescanbethe Key to your Business Growth December28,2023 Didyouknowthat63% ofmarketers struggle tomeasuretheROIof theirsocialmediaefforts? Areyouoneofthem? Thenyouareatthe right place! Thekeymetricsthatareto beusedbyeverymarketer to measuresocialmediaROIare meticulouslydiscussedhere. SubscribeToGet LatestUpdates WhydoweneedkeymetricstomeasuresocialmediaROI? In a recent survey, it was found that people spend approx., 3 hours and 53 minutes online (social media) every day. 89% of social media marketers agree that social search is more importantthanothersearchenginesearchesfor selling aproduct.Thatis theveryreasonforus to measure the Return On Investment(ROI) in social media, as it has tremendous potential in wideningyourtargetaudience,socialmediasalesfunnelandprofitsto thebusinessmen. Email Subscribe Wemaylosetrack of ROIinsocialmediaifwedon’t follow thepropersocialmediametricsto measureROI. SocialMediaMetricstoMeasureSocialMediaROI Social media marketers build AdWords campaigns to rank for important search keywords, which will measure the clicks, traffic, and leads. But at the end of the day, if the ad costs outweightheimpact of thead,then thatisbadfor ROI.Let’sseeaboutthemajorsocialmedia metricsnow. 1)DevelopaBudgetforAds Developingabudgetfor Adsisadire responsibility ofamarketertoget positiveROI(positive ROImeansAdcostislessthantheimpact of anad,meaningitisprofitforthecompany). Knowingwhenandwherethecostspentmakesmoresenseiscrucialfor ROI.DeveloptheAd budgetbasedonthesefactors: Totalcampaignbudgetandduration–Forhowlongtheadwillrunandwhatisthe total budgetforit? DailyAdbudget–Howmuchdoyouwish to spendforaday? Short-termads–Targetedcampaignsforspecificevents or promotions (e.g.,flashsales,holiday sales)

2. Long-termads–OngoingcampaignsfocusedonbrandawarenessandleadgenerationLong-termads–Ongoingcampaignsfocusedonbrandawarenessandleadgeneration New ads for different seasons, for different needs, as the company evolves and branches are needed for a company. These points have to be taken into consideration as well. Ads may include branded influencer content, ads in social media posts & stories. Ads are not for all companies.Someproductscostmuchlessthantheaveragesalespriceforthe economiesto work. Perseveranceisthekey Manymarketersfeel that theydon’tgettons of profitinthefirstweek aer theiradcampaign. Adsare not theshortcuttoprofit!It takes incrementalfeedbackandstepstogainprofit.When thehistoricaldataisanalyzed,itwillgiveinsights of: Which content performed better in social media? Whichsocialmediaperformed better forthebrand? Whereareyouradslagging? Whichcontentperformedbetter? Whichsocialmediastrategyisthemost efficient?Andsuch. Withtheseinsights,proceedwithoptimistic feedbacktogainaudience,andwidenyour social mediasalesfunnel. UpsurgetheRightMessage Ads will perform better if the right content is up-surged in an encapsulated campaign that is betterdeveloped. Whatistherightmessage? Promotion of abrand?No.Therightmessageisalwaysagreatcontent.Adswithgreatcontent thatwouldhelpsomeoneisa well-craed ad thatwillearnprofits. SusanChang,Director of DropBox,SocialMediasays,“Socialmediaisnevershortof metrics to run”, which means there are many different metrics to measure ROI. And some of those Social Mediametricsmightinclude, Audience Growth Rate SocialMediaImpressions Social Media Conversion Rate SocialMediaEngagementRate Customer Response Rate Influencer Campaign Metrics TraffictotheBrand’sWebsite Each brand has a different set of metrics that works well for them and they need to stick to them.Never stop analyzinganew metric.“In thefuture,newsocialmedia metrics mightgive moreprofitasthecompanyevolves”,saysSusanChang,Director of DropBox,Socialmedia. Evaluateapaidcampaign’simpactonMarketingQualifiedLeads(MQLs) TomeasuretheROI of apaidcampaign,youwillneedtomeasuretheleadsandcustomers you converted because of your Ad. Intent-based marketing is done by targeting a smaller group of potentialleads,toget positive ROIinstead of getting negativeresultsbytargetinga biggeraudience. LauraGrass,G2’sSenior MarketingManager,EnterpriseandABM says,”Investmentsaremade worth itwhenthehigherconversion rates andhigherACVonpaidsocialcampaignsoccuras aresultof intent-based marketing.”

3. With all these ROI tools ready at hand, the title “The best social media platforms for marketing in 2023″ goes to Instagram, as 23% of marketers believe that Instagram offers the highest potentialtogrowtheiraudiencein2023.Andisexpectedtoincreaseevenmoreinthe presentyearof2024.Nowistheperfecttime to learnaboutthis. Instagramcontentstrategy WhenisthebesttimetopostonInstagram? HowdoestheInstagramalgorithmwork? Thedata-drivenresultsforall these questionscanbeprovidedbySocialMediaAnalyticsTools like, InstagramAnalyticsTool SproutSocial Buffer Sendible PostPlanner Instagramanalyticstoolsarehighlyeffective. TheInstagramanalytic toolanalyzes historicaldataabout theInstagramprofileandgives valuableinformationon Demographics:informationaboutyourfollowerslikeage,gender,location,language,and interests. Totalnumberofinteractionsandgrowthoffollowers:numberoflikes,shares,andnotjust thefollowers count Reachandimpressions:How manyuniqueaccountssee yourcontentandhowmanytimes isitdisplayed? Contentperformance–includespost and story insights. FollowerActivity:Whenareyourfollowersonline,andwhen(day or time)dotheyengage themost? Hashtagperformance:Whichhashtaghasahighreach? Brandmentions: How dopeoplemention your brandincomments,captions,andstories? Traffictoyourwebsite:measuringbrandvisibilityandthenumber of clicksto yourprofile (potentialleads) Salesorrevenuethatcanbeassociatedwiththe Instagramprofile.These data-driven results are given by free Instagram analytic tools. The paid tools offer even more in-depth insights like, CompetitorAnalysis InfluencerAnalytics SentimentAnalytics ConversionTrackingand such.Whilechoosing the Instagramanalytictool,consider the budget, ease of use, needs, and platforms as the different tools are suitable for different businesses. Conclusion Don’tletsocialmediaROIbeamystery! Unleash thepower ofmetrics andwatchyour      engagementsoarlike atrendinghashtag.Remember,valuablecontentisthekeythat unlockspositive ROI–so ditchthesalespitchesandfocusonbuildingconnections.With

4. the right tools and data, your brand can become a social media superstar.One can conclude that by usingallthesesocialmediametricspotentially,socialmediaROIcan bedrasticallyimprovedleadingtoatremendousincreasein yourbusiness. Services Resourses EvenifyouhaveanegativeROI,we,NeomaMediawillputanendto itbyanalyzing yoursocialmediaaccountsscrupulouslyandleavingnostoneunturnMeda.rYkoeutrinPgosSittivraetegy&Insights Services ROIisrightaroundthecorner! Creative&ContentProduction AboutUs CosmicCampaigns,UniversalImpact:YourBrand'sOdyssey Begins withStellarMarketing. Media&ChannelActivation CaseStudy CustomerExperience&Personalization ContactUS Measurement&MarketingROI AventureofCuneiform Consulting PrivateLimited Copyright©2023Neoma.Media| Allrightsreserved.