The first thing every marketing and sales manager asks when spending money on Facebook is – what is my ROI or return on investment?
In the world of social media though, ROI is different. ROI (usually) isn’t measured in dollars and cents. Rather, it is measured on specific business goals but should always be quantifiable.
You can measure ROI on Facebook in a number of ways and not just with reach and impressions. For example, Facebook ad insights and other Analytics tools can show you how many leads were generated from ad clicks.
Like with any other type of media, there is no guarantee on the results you will see from a Facebook ad campaign. The outcome or ROI can depend heavily on what your objectives are. That includes your product, the quality of your ads and your targeting.
So what are good things to measure when it comes to Facebook ROI? Here are two ways.
- Shares. Shares are very valuable. More valuable than likes in fact. That is because a “Like” simply states that a person believes in or approves what is posted. “Shares” though on the other hand extend your content to more individuals, new individual eyeballs that you weren’t originally targeting. A share is an endorsement and a definite good thing when it comes to Facebook marketing.
- Comments (even bad ones) can be a form of ROI. It shows that a person took the time to provide a thought, not just clicked a Like or Share Button. Comments can provide great insight and feedback not only on your content you are posting but also on products and services your company may provide. If they say something negative, that insight can at times be more powerful as that information maybe something you didn’t even realize.
Facebook ROI isn’t always tangible, like other forms of ROI. It is though track able. That is why you should always have a plan in place ahead of any campaign and educate you on how you can improve your efforts in the future.
For more information on Facebook and other social networks ROI contact The Interactive Imprint at 954-254-1650 or visit https://theinteractiveimprint.com/.