As a social media marketer, you understand that social media platforms bring value to your company or organization. But the question is can you measure the return on investment of your social media marketing efforts. However, sometimes determining the investment return becomes difficult, but you can you an online calculator to measure the returns of social media networks. Usually, social return on investments can often be tricky to prove. In this guidepost, we will show you some tips & tools such as ROI free online calculator that can help you to prove & improve social return on investment.
Value / investment (people hours, ad budget, etc.) X 100 = social media ROI percentage
The social media ROI for business is calculated depending on your organization’s objective such as revenue, customer satisfaction, brand awareness, etc. This is the reason that why the above formula uses the value instead of using revenue, and profit as the starting point. For instance, Johnsonville Sausages extensive social listening program so, they use social media to get insights into what type of new products they should be developing.
Instead of using the financial calculation, they base the return on investment of their social media account listening efforts on how much information they can share along with the product manufacturing team. The calculated value used by them is in the intelligence gathered instead of sales or revenues. Here’s how you can calculate social media return on investment for your business.
If you are confused about the manual calculation then, you can use a calculator online that can help you in calculating the returns on investment.
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