How to measure ROI for Social Media?
Measuring the Return on Investment (ROI) for social media involves assessing the impact of your social media efforts on your business goals and determining whether the results justify the resources invested. Two major components for measuring ROI are tracking key metrics and adjusting strategies accordingly. In order to be able to do this, you have to know your data. At Red Door, we have a way for you to be able to regularly review and optimize your data - Monthly Social Media Marketing Reports.
What is a Marketing Report?
One component of our Monthly Retainer here at Red Door Marketing agency is our Monthly Social Media Reports. These reports provide your business with an overview of your Social Media Profile performance over the course of a month. Analytics that we include are Top Posts, Video Performance, Page Follower Demographics, and People Reached Demographics.
Why is ROI important?
Return on investment, better known as ROI, is a key performance indicator (KPI) that's often used by businesses to determine profitability of an expenditure. It's exceptionally useful for measuring success over time and taking the guesswork out of making future business decisions. A high ROI means your campaigns are making more money than you spend on them, which is exactly what you want. Nobody likes wasted budget.
What are Social Media Analytics?
Social media analytics refers to the collection of data and metrics that help you measure your overall social media performance. This helps marketers understand which types of social media content best resonate with their audience so they can shape and adapt their strategy accordingly.
Why are these reports important?
Social media analytics help marketers with a number of tasks, from informing our strategy to planning campaigns and inspiring content ideas. Reviewing social media analytics reports empowers our team to make data-informed decisions about how to transform your marketing efforts and grow your business.
What is included in these reports?
We try and build our reports to include information that is the most valuable to your business. The metrics we provide are a Looking Ahead section, Top Posts, Video Performance, Page Follower Demographics, and People Reached Demographics. Our reports also cover each platform that you let us oversee.
Looking Ahead
Our report begins with a section dedicated to Looking Ahead. The information provided in this section includes:
Platform Comparison: Most of our clients let us oversee multiple Social Media Platforms at a time. The platform comparison supplies a brief explanation of the major differences in demographics.
Audience Demographics: A brief explanation of the demographics of your following.
Content Preferences: Explains engagement rates and encourages a push for authenticity.
Geographical Insights: Briefly explains your geographical analytics.
Recommendations: As a Marketing Agency, we are always searching for ways to better your Online and Social Media presence. This section gives you a brief overview on what you could improve on, change, or update regarding your content. We also highlight things you're excelling in that you should stick with and maybe even emphasize!
If you have been a part of our monthly retainer for multiple months, you will see a section called Comparison to Previous Months. This content from the Looking Ahead section provides you with a summary of changes in your analytics compared to previous months.
Top Posts
The second section of our report is the Top Post section. We provide your top 3 performing posts from the platforms we oversee. The metrics include Total Engagements, reactions, shares, comments, post link clicks, and other post clicks.
Video Performance
We provide metrics for you to view your aggregate Facebook video performance during the reporting period.
Page Follower Demographics
We provide your page follower demographics for any platform you use with us. We break it down by genders, age, countries, and cities.
People Reached Demographics
The final section of our report is the People Reached Demographics. We provide the facebook metrics of people reached by age, gender, country, and city - much like the follower demographics.
Knowing Your Data could be the best way to increase your ROI. Here at Red Door, we provide you with all of the information you need to understand your social media profile performance along with ways to improve your performance and increase your presence.
Contact Us
For further information, please reach out to us at reddoormarketingagency.com/contact-us.
