Social media marketers should always be conscious of the impact of the investment they make. At least, managers would love to know how much benefits the budget they approved has yielded.
After all, no one wants to do things with their eyes closed, right? Least of all, blindly spending money on social media campaigns.
To provide the much needed report for financiers and to help make better decisions for future social campaigns, there is need to master the skill of measuring Social media ROI.
Yes, measuring social media return on investment (ROI) is necessary to ensure that resources are not wasted where they are not needed.
Identifying the key performance indicators (KPIs) or metrics like profit, influence, social exposure, lead generation, retention, engagement, interaction, sales, and traffic, etc., is a starting point for effective ROI measurement.
On a more practical term, the social media marketer must know the most effective tools that would bring to the fore the necessary KPIs and how they interact with each other.
Before tracking Social media metrics effectively, goals must be set and the right tools gathered to ensure that you not only validate the formula: Return on Investment (%) = (Net profit / Marketing Costs) × 100 but also that the report reveals how the ROI effectively helps in the overall marketing objectives of the organization.
That being said, here 10 powerful tools to effectively measure social media ROI:
1 – Google Analytics
Google Analytics helps you track social media campaign sign-ups, on-site conversions and website traffic.
Social marketers can use this tool to set up links that would be used to track the parameters of the campaign.
The good thing is that this tool is easy to use and it is a cheap way to track your social media campaign success.
2 – Salesforce
If you want to effectively measure sales lead in a social media campaign then Salesforce should be your choice tool.
This automation software can be combined with tools to effectively track leads back to specific social content or campaign.
Salesforce uses tracking codes on the links shared in social campaigns to monitor progress.
3 – Hootsuite
Hootsuite Analytics is a broad range tool that social marketers can utilize to identify conversions, reach and brand sentiments. Also, it helps track the social messaging that are driving or not driving traffic.
Hootsuite also offer analytical reports that help users see snapshots or visuals of the social media performance overtime. Hootsuite is an all-round tool and it is effective for managing and tracking metrics.
Social marketers without much experience would find this very useful!
4 – Sendible
Sendible is a powerful tool for measuring social media ROI. This works effectively by showing how social media efforts have impacted on the traffic of the website.
You can use this tool to define in details how your social media contents and emails directly affect page views and traffic.
The sleek report generated by this tool can be used to identify geographical patterns of the traffic so that targeted content created and shared on the right social media platform.
5 – Union Metrics
Union Metrics is a powerful tool in that it helps to measure the effectiveness of your social media campaigns across platforms.
With this tool you can identify and compare the effectiveness of conversations across social networks. It helps you which social content can effectively provide the highest return on investment in various campaigns.
6 – Trackur
Trackur should be your ideal tool for tracking positive sentiments about your campaign.
This tool is so unique for sentiment analysis, and this means that your overall social media sentiment readily affects where and how you spend your social budget.
It is an effective ROI measuring tool for social marketers. It’s a paid tool but its uniqueness makes it an effective ROI checker for social media marketing!
7 – Qualia
Qualia is a powerful and effective social media ROI measuring tool in the sense that it helps to unveil the customer intent.
You can utilize this tool to analyze intent signals of what customers are actually buying before and after the campaigns are launched.
In using this tool, you will have to determine overall consumer engagement by making analysis of social media activity, search traffic and proprietary data, etc.
8 – Klout
Klout helps as a social media ROI measuring tool. It effectively helps monitoring and measuring influence across channels like Facebook, Instagram, Twitter, Google + and so on. The influence you have is determined by your ability to drive action.
Klout Score is a number allocated to the amount of influence you have. It is also the accumulation of your influence across all networks. If more people respond to your social content then it means you are more influential.
The Klout score is therefore, a kind of measure to the effectiveness of your social shares.
9 – Buffer
Buffer is popular with measuring social media interaction. You will get to track and schedule the content you have posted on various networks and see how effective they have been.
If your social media practices readily embrace Twitter then Buffer lets you know Twitter audience you have online and you get to know the content that could be best seen online. By attaching UTM parameters from Buffer you are can as well track social traffic in Google Analytics.
10 – Viral Heat
Viral Heat is a social media monitoring, analyzing, publishing and engagement tool. It could be powerful for the measuring of your social media ROI.
This tool allows you to understand social metrics and drive social ROI with real-time social analytics. It is most effective in ensuring sentiment trends are properly analyzed, combined and compared for actionable data.
So, there you have it!
The above social media measuring tools are powerful.
Some of them are free while others are paid plans.
You should check out the links of these tools and see how effectively you can start measuring the ROI of your social media marketing campaigns.