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5 Things to consider when measuring Social Media ROI

Much like email and the internet, social media is not going away. It’s here to stay, but the real question is how can you tell if it is worth your time and effort? The answer is suprisingly simple.

Most CEOs or CMOs who know nothing about social media will look at the wrong numbers when it comes to social media. It’s not the # of fans or the # of followes that count, it whether you are making any money.

Ask yourself these 5 questions:

  1. Are you making money from your social media activies? Making money from social media can mean many things. Turning potential customers into sales, gaining donations if you are a nonprofit, or gaining clicks for advertising.
  2. Are you gaining more web traffic from your social media activities? Increased web traffic is something you can show your board of directors, it’s what makes invenstors want to invest and it also drives online advertising buys to your site.
  3. Is your brand getting elevated? When your brand becomes a trusted source, a subject matter expert in your area of expertise, or becomes a household name, that’s when you know your social media and marketing efforts have paid off.
  4. Are you seeing increased consumer loyalty/sharing? The quality of your fan/follower is imperative to your success with social media. So many people overlook this. It’s not just about the number, it’s about making those people actionable and working for you and your brand.
  5. Is your network growing? This is the last thing you look at. It needs to grow so that you can spread your message/mission further. It represents how many eyeballs are on your brand, and how many are sharing your content. But the real value is in building the relationships that are going to take your company to the next level. This is what matters and why it’s important to grow your network.

 Do you agree? Have something to add? Leave a comment below.

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About Tracy Sestili

Tracy Sestili is CEO and Chief blogger at Social Strand Media. She is also the author of Taking Your Brand from the Bench to the Playing Field -- Social Media Fundamentals for Business.