This document discusses how to measure the return on investment (ROI) of social media marketing. It begins by explaining how to calculate ROI by determining the return in sales from social media versus the investment in things like advertising, staff time, etc. It notes that while some value from social media is intangible, like relationships built, metrics can still be tracked to measure strategy effectiveness. The document recommends tracking metrics like reach, engagement, opt-ins and sales that occur after social media interactions. It also provides examples of tools to track metrics from different social platforms and outlines a system called Social Media Works for consistently measuring ROI from social efforts.
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How to Measure the ROI of Social Media
1. How to Measure theROI of
Your SocialMedia
withAndrea Vahl
@andreavahl
2. Here’s WhatYou’ll Learn.. .
• How to calculate ROI (Return on Investment) and what needs
to be part of the equation
• How to do a deeper dive into your social media stats to shape
your future strategy
• The most important stats to watch to ensure your strategy is
working
• The #1 thing every business owner should be tracking (but
often aren’t)
3. ABOUT ME
Co-author of Facebook Marketing All-in-One for Dummies
Community Manager for Social Media Examiner for 2 years
Lead Instructor at FBInfluence
Cofounder of Social Media Manager School
Grandma Mary @GrandmaMaryShow
Andrea Vahl @AndreaVahl
6. Return on Investment
The problem with calculating the return on
investment of social media is that it’s a
money-based equation.
Some of the value of the work you are doing is
intangible.
What is the value of the relationships you are
building and forming?
7. Or as Gary Vee says
“What’s the ROI of
your mother?”
8. Just because calculating your social media return
on investment is challenging doesn’t mean you
should give up.
9. The good news is that social
media is one of the EASIEST
forms of marketing to
measure!
11. Return on Investment
Return = Sales from social media (or that
have been assisted by social media)
Investment = Costs associated with
campaign (advertising, marketing, and
your TIME!)
12. Time is the #1 thing many
businesses fail to track
13. Measuring Your Time
• Excel Spreadsheet
• Toggl
• RescueTime
• Everhour
Interesting way to calculate what an hour of
your time is worth to you:
http://sparetime.arkivert.no/
16. Return on Investment Example
Sales = $5000
Investment:
Facebook Ads cost - $350
Work by assistant - $75
Work by you – 5 hours ($100/hour) = $500
Total investment: $925
18. What is a GoodReturn on Investment Ratio?
Common wisdom- 5:1
But that depends on Cost of Goods –
for consultants and digital products,
your ratio may be different
22. But what happens before….
See an ad on
social media
Optin to free
report
Get an email
See a post
on social
media
Buy
23. What You CANMeasure
• Sales from Social Media
• Optins from Social Media
• Reach, Clicks, Comments, mentions, hashtags,
bounce rate, video views, reviews, website
visitors, Fans, Followers, Subscribers and on
and on…
24. What You CANMeasure
• Sales from Social Media
• Optins from Social Media
• Reach, Clicks, Comments, mentions, hashtags,
bounce rate, video views, reviews, website
visitors, Fans, Followers, Subscribers and on
and on…
Leads to
Optins and
Sales
25. To Monitor Social Media Traffic
and Sales
#1 Priority -
Google Analytics
29. Business Objective Social Media Metrics to
Measure
Connect with Current Customers Reach
Comments, Likes, Shares, Retweets
Reviews
Return Traffic from Social Media
Reaching New Potential Customers New optins from social media
New Fans/Followers/LinkedIn connections
New Group members
Increasing Customer Satisfaction Answered messages
Time of response
More positive reviews
Establishing yourself as a brand leader or expert
in your field
Website visitors from social
Time on site from social
Bounce rate
Optin for webinars, ebooks, newsletter, or
other content
Video views
Retweets and shares
Increase in Sales Track sales directly from social media or sales
with a social media assist
30. Choose the Key Performance
Indicators that are right for YOUR
business objectives
31. How to do a deeperdiveinto yoursocial mediastats
45. Social. Media. Works.
• Build highly-engaged communities where people
comment, rave about and share every day
• Attract a flood of new prospects to businesses
• Build engaged, high-quality lists of
subscribers quickly
• Nurture that engagement and turn leads into
profitable sales
46. Special Offer
Social Media ROI Course
• A system of measurement
• Remove the guesswork
• 4 Modules – over 8 hours of
classes, reference material
• Private Facebook Group
• Bonuses
• LIFETIME ACCESS!
www.SocialMediaROIcourse.com
52. Bonuses
• Automated UTM Link Creator Template
• Spreadsheets to track and plan
• Social Reporting Software
• Private Facebook Group
• Certification Exam – Perfect for winning
new clients and assessing your
knowledge
• Lifetime Access to material
www.socialmediaroicourse.com
Does anyone want to give their money to Facebook? No.
But with 1.6 Billion people hanging out there Facebook is the perfect place to connect to your potential customer.
Unfortunately if you are setting up your ads wrong and Confused about all the new advertising options on Facebook? Don't know if your Facebook ads are as effective as they can be? I've consulted with hundreds of small business owners and have seen the same unfortunate mistakes over and over.
At the end, I’m going to something super special that I’ve been working on that has been in beta until now – so you will get the first look. But until then, we are going to dive into a ton of great content. And we’ll have some time for some live questions.
I’m going to tell you a little more about how I get started than I usually tell. Most people don’t know this about me but I actually started out as an engineer. Not the train kind but the geeky kind And I was actually working as a systems engineer for a telecom company when I had my first son. About 9 months after I had him, my whole department got laid off when the Telecom bubble burst. But I was actually happy because we hated day care. We just couldn’t stand dropping our sweet little baby off every day and we never really knew what they did. So we decided to try and make it work with me staying home but it was hard. And I couldn’t sit still for very long and wanted to earn some income. So I started an in-home-wine tasting job which was like my dream job – drink wine while I work, go to parties. It was great. And that’s when I discovered social media. I was using it to connect with people online and using Twitter, Facebook and it was so much fun. I was growing my business and then the wine company where I got my wines went out of business.
So I decided that I would never tie my fortune and hard work to another company again. As I was learning about social media, I noticed a hole in the market. There weren’t any entertaining video tutorials about how to use social media. I wanted to have fun while I was learning. So I also did Improv comedy for about 8 years and I decided that I would take one of my characters – Grandma Mary – and she would do my blogging for me and do fun interviews and so Grandma Mary – Social Media Edutainer started her blog. Her motto is If Grandma Mary can do it then you can do it too.
She grew a great following online and made some great connections. One of the connections was Phyllis Khare and she was pitching a Dummies book to Wiley about Facebook Marketing. They wanted a co-author with a big platform and they took a look at the number of my Facebook Fans and Twitter followers and offerd me the book deal. So you really can see the power of growing your platform and making new connections.
Benchmarking – what is it and why do we care
Comparison benefit – conduct experiment and compare
Highlight peak – click to get all posts
When you master Facebook Advertising, you become someone who knows how to make it rain. Someone who knows how to turn on the tap of traffic, engagement, leads and sales to your business.
While the results can feel like magic, there’s really no magical mystery to Facebook Advertising.
When you are using a system like my Facebook Advertising Secrets course, you are going to be able to save more money, get better results, and not tear your hair out in the process!
Not only that, all of Instagram advertising is run through the Facebook Ads platform and that is steadily growing with a projected 1.48 Billion being spend in 2016.
It can build your business, promote your launch, grow a list of eager target leads, and make sales.
And there’s no one type of business it works for. I’ve worked firsthand and advised on campaigns for 100s of clients around the world. From e-commerce to brick and mortar, from restaurants to lawyers and business consultants, I’ve seen Social Media work for them all. But if you are using tactics that are wrong for your business and not measuring what is working, you are spinning your wheels.