To show a short term ROI out from social media is important to keep the activities motivated and long lasting. In the long term social media brings massive branding power as well.
How to show short term social media ROI?
You need to set up a strategy, which includes a whole set of tasks to get ROI out of social media and other online activities if you want to succeed!
Inbound marketing offers this kind of strategy to help you succeed with your revenue goals.
Inbound marketing positions you to execute a holistic marketing strategy and measure the results the smart way.
Inbound marketing gets you found and gets you leads!
To make your inbound marketing the right way and become able to measure your results you need to do a documentation of your doings and results.
Track your month to month results (friends and followers growth) and then divide these numbers through your invested hours, your hourly working rate. You can also drill down to the price per friend and follower.
With this you get a good picture of how much it cost (time = money) to be active and to get followers and friends in each network.
To measure your profits made through social media activities you should setup different landing pages which for example lead friends from facebook to a FB related landing – lead capture page and followers from Twitter to a TW landing page – lead capture page.
Through a lead nurturing process you can track each channel separately and calculate your previous efforts invested (hours/ time = dollars) to your sales results from the said channels.
You will discover that your social media landing page traffic, made through PPC, would cost you a ton of cash.With social media it does not.
This additional ROI factor, which also lowers the cost per lead through social media activities, can also be taken into account when presenting your short term social media ROI to your boss.
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