{"id":1777,"date":"2019-05-11T15:45:05","date_gmt":"2019-05-11T13:45:05","guid":{"rendered":"https:\/\/www.dazzlepop.net\/site\/?p=1777"},"modified":"2019-05-11T15:45:08","modified_gmt":"2019-05-11T13:45:08","slug":"how-to-define-an-actionable-social-media-roi-for-your-business","status":"publish","type":"post","link":"https:\/\/www.dazzlepop.net\/site\/how-to-define-an-actionable-social-media-roi-for-your-business\/","title":{"rendered":"How to define an actionable social media ROI for your business"},"content":{"rendered":"
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Be honest: is your business actually getting anything out of its social media presence?<\/p>\n\n\n\n

Harsh question? Maybe so.<\/p>\n\n\n\n

But bear in mind how difficult it is for brands to wrap their heads around the ROI of social media.<\/p>\n\n\n\n

In fact, 55% of social marketers<\/a> cited measuring ROI as their number one challenge in 2018 according to our own data.<\/p>\n\n\n\n\n\n

If you\u2019re struggling with social ROI yourself, we totally get it.<\/p>\n\n\n\n

Measuring the return on metrics such as engagement rate or customer satisfaction often feels like a guessing game.<\/p>\n\n\n\n

Besides, not everything you do on social media translates directly into dollars and cents.<\/p>\n\n\n\n

Yet at the same time, businesses need to be held accountable for the time and resources that go into their social efforts.<\/p>\n\n\n\n

That\u2019s why we put together this guide to help social marketers determine and define social media ROI based on their unique online presence once and for all.<\/p>\n\n\n\n

Why social media ROI matters<\/h2>\n\n\n\n

To skeptics, social media has the reputation of being a total time-sink.<\/p>\n\n\n\n

Sure, it\u2019s true that businesses can<\/em> pour hours upon hours into their social without seeing much in return beyond a few vanity metrics.<\/p>\n\n\n\n

On the flip side, so many brands are killing it with paid and organic campaigns<\/a> alike. There\u2019s also a universal expectation for businesses to have some sort of social presence whether it be for customer service or brand awareness.<\/p>\n\n\n\n

And beyond accountability to your boss, effectively measuring your social media ROI can help inform you how to improve your campaigns for engagement.<\/p>\n\n\n\n

If you want to squeeze the most out of your valuable time to attract and convert customers via social, you need to define what you\u2019re trying to get out of your presence.<\/p>\n\n\n\n

With that, we dive into the meat of figuring out your social ROI.<\/p>\n\n\n\n

1. Start by defining the purpose of social media for your brand<\/h2>\n\n\n\n

Let\u2019s be clear. Social media ROI is not<\/em> some sort of one-size-fits-all affair.<\/p>\n\n\n\n

When we think \u201cROI,\u201d we often default to thinking about money. Cash. Moolah.<\/p>\n\n\n\n

Yet not all brands are necessarily using their social presence to \u201cfollow the money.\u201d<\/p>\n\n\n\n

For example, raising brand awareness<\/a> is a perfectly good reason to invest in social media. Brands like Ben & Jerry illustrate that there\u2019s more to social than just pushing products.<\/p>\n\n\n\n

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