Measuring Social Media’s Return on Investment

8 Apr

money

Social media is the best tool to effectively communicate messages in the shortest amount of time, but it can be difficult to directly generate revenue. Measuring the success of a social media campaign can take some time and is very subjective. Of course, social media tools are free to use and need little to no investment, but wouldn’t it be wonderful to make a profit?

Advertising is one way to generate a return on investment, although, as PR professionals know, word of mouth marketing is more effective than placing an advertisement. So, how does one generate revenue and measure the success from disseminating messages through social media?

It’s simple, communicate exclusive deals and information to your followers, fans and readers. Give your audience an incentive to frequent the social media sites while opening shop online. In addition to creating an editorial calendar and tweeting the most up-to-date company news, brainstorm special offers and sales exclusive to online viewers.

The best way to measure the success of your social media campaign is to give the exclusive offers a significant promotional code. For example, tell your audience to mention a key word in order to redeem the special offer. Track every time a customer uses this promotional code and vuala! You will soon be able to measure the ROI on your social media campaign through the revenue it has generated.

Once a company has created a blog, Twitter account and Facebook page, the question of measuring the return on investment becomes of utmost interest. Your boss has only one thing in mind and that is making money, so be conscious of your ROI measurement.

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