How do you determine the ROI of social media?

By October 22, 2014 October 16th, 2017 News

Social media can be hard to measure because it can be used in a variety of different ways. It does not provide a separate function in and of itself but instead can be used to strengthen other functions such as sales, customer service, brand awareness and SEO.

With this in mind, how you measure ROI must take this into account. Therefore, we recommend you benchmark activity across a variety of operations that social media could benefit.

For example, if social media could reduce the time it takes to resolve customer service enquiries, make sure you are monitoring how much time this takes across the business and the different forms it takes. This is just one of the areas that social media can benefit so consider the aims of your strategy and ensure you are collecting the correct data.

Of course, correlation doesn’t necessarily equal causation so it is important to create points of light wherever your can; ensure to include a “where did you hear about us” question on any enquiry form; use Facebook apps and promotions to collect email addresses and compare them with your own customer data; survey your customers to find out if they are interacting with you on social media.

There is no one quick and easy method to measuring social media ROI, which is why so many companies turn to Bravr. Contact us to discover how we could shed light on your social media activity.