by Fronetics | Oct 3, 2018 | Blog, Content Marketing, Data/Analytics, Logistics, Marketing, Social Media, Supply Chain
Use these three steps to calculate your social media ROI and prove the value of your investment.
As supply chain and logistics businesses are finally recognizing the merits of content marketing, and more specifically social media platforms, many are looking into implementing a program at their companies. But it doesn’t take much research to realize what an enormous investment it is. And how difficult it can be to prove social media ROI.
We understand the time and money it takes to successfully implement and manage a social media strategy as a part of your content marketing plan. Many companies we talk to need help convincing management that it’s a worthwhile investment. To that we say, use data!
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But what data should you use? How do you quantify certain benefits, like growth in brand awareness? And do you really have to keep track of all the hours you spend managing social media, crafting new tweets, etc.?
Here are three simple steps to start proving your social media ROI.
Infographic: 3 steps to prove social media ROI
(Made with Canva)
Final thoughts
Once you’ve calculated ROI for your social media platforms, it’s time to think strategically about optimizing your content marketing resources in terms of allocation and timing. Having hard data helps you answer questions about which initiatives are most fruitful, what language engages your audience best, when your efforts are most likely to pay off.
Ultimately, this data-driven approach lets you continually adapt to the needs of your audience, ensuring an ongoing, robust ROI.
Have you had to prove your social media ROI? What strategies did you use?
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by Fronetics | Sep 11, 2018 | Blog, Content Marketing, Logistics, Marketing, Social Media, Strategy, Supply Chain
Daunted by the idea of proving social media ROI? These 3 steps will give you the structured framework you need to show the results of your efforts.
We all know social media is effective — but do we really know it?
Social Media Examiner’s 2018 Social Media Marketing Industry Report found that only 44% of marketers agree that they know how to measure social media ROI. That means two-thirds of you don’t know whether or not, or how much, your marketing efforts are paying off when it comes to the use of social media.
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Managing your business’ social media is no small task. It can be a time-consuming and laborious process, so you want to make sure you’re doing it right. That means having a systematic framework in place to prove social media ROI. These three steps will get you started.
3 steps to prove social media ROI
1) Set goals
It may seem obvious, but too many businesses approach social media marketing with vague goals or none at all. Deciding that you want to “grow your business” through social media is great — but it does little to set you up for success.
As you think about goals, keep the SMART principle in mind: Your objectives should be specific, measurable, achievable, realistic, and timed. So for example, instead of shooting to “generate more leads,” set a goal to “generate 10% more leads over 30 days.”
2) Track and measure
Once you’ve set your goals and identified your key metrics, it’s time to implement a system that will track and measure your metrics. At the very least, you should be tracking your metrics on a monthly basis.
We’ve created this monthly marketing reporting template just for supply chain and logistics businesses. It can help you measure social media ROI, as well as track your content marketing efforts, all in one place.
3) React
This is your endgame. While proving your ROI is a great outcome of tracking and measuring your metrics, the real object of your efforts should be reacting to what you discover. Look at your metrics in the context of your goals and objectives. Which efforts are moving you forward? What’s not working?
Trying to prove social media ROI is far from impossible when it’s supported by a solid framework. With a data-driven approach, you can prove ROI and use concrete tools to take steps to improve it.
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