Struggling to prove social media ROI to your clients, boss, or team? In this post I share how to prove the business impact of social media on your company's bottom line – free from Google Analytics and complicated spreadsheets.
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ROI or “Return on Investment” is a hot talking point when it comes to marketing. We're often asked why we do what we do, and what is the return on our investment of time and money? It can be a challenge, in particular, for social media professionals to prove the business impact of social media on a company's bottom line.
Why Should We Care about Social Media ROI?
Great question. Proving the business impact of any of our activities – including social media – is important. It allows us to validate the effectiveness of our work.
But until now, some marketing strategies have been easier to track and quantify than others. While we can easily track leads, website visits and conversions, there's one thing that has been difficult to track: social media.
Put simply, Social Media ROI has been dang hard to prove.
Yes, it's possible to do it… but it requires an entangled mess of Google Analytics, hacked together spreadsheets and piecemeal data from a whole bunch of different sources. And don't get me started on UTMs. Tracking links is just a dog's breakfast of a mess.
Sadly, the result is that many social media professionals are not effectively able to “prove” the business impact of their content on the bottom line of the company. This means that unfortunately social media is often seen as the important revenue generator that we know it can be.
These challenges have been highlighted by research conducted by Agorapulse. They showed that 98.2% of social media posts that could contribute to revenue, will never be tracked:
What if there was an easier way to track our content and prove social media ROI? What if all those missed UTMs and data wrangling could be replaced with something better (and easier)? What if social media managers and teams could prove their value in revenue terms?
Now they can.
Enter Agorapulse, my favorite social media management tool. I've shared my love of Agorapulse many times on this blog, and I have been an Agorapulse Ambassador for a number of years. I use Agorapulse to schedule my social content (and my group content too). If you want to find out more about why I love Agorapulse, then watch this video.
But let's talk about their new ROI Tracking feature. It takes things to a whole other level and proves (yes, I used the P word) the ROI of social media.
Introducing ROI Tracking (to Prove Social Media ROI)
ROI Tracking is a new feature inside Agorapulse that proves the ROI of social media – including sales, leads and visitor behaviour.
ROI Tracking gives you a single dashboard for creating and analysing content, powerful UTM capabilities, and actionable insights on your social media efforts.
Here is a quick overview to show you how easy it is to connect your Google Analytics to Agorapulse's ROI Tracking:
1. Connect Google Analytics to Agorapulse (it takes just a few clicks)
2. Set up your Tracking and Goals so they can be tracked with ROI Tracking:
4. Set up Your UTM Campaign Tracking – Agorapulse makes it easy with pre-set parameters like Source (the social network you are posting to) and Medium (ie Social). So all you have to do is add the Campaign Name:
Links are easily created and tracked from inside the Publisher when you produce a new post. You can also set default links for campaigns.
4. Start Tracking your Social ROI. You're all set to go. It's that easy.
Are you excited? Once you have your account set up, let's take a look at what you can track!
Key Features of ROI Tracking in Agorapulse
With ROI Tracking, you can get data on the following:
- Your accounts on Twitter, Facebook, LinkedIn, Instagram and even YouTube.
- Your inbox (where you can read, review and respond to all of your posts across platforms).
- Individual profiles or Team Members in terms of content and engagement.
- All in one single dashboard … did I say that already?
Data in the ROI Tracking reports is super useful and gives you an instant overview to help prove social media ROI. You can see the top performing posts across all platforms:
You'll receive detailed data on where your revenue is coming from, right down to the last Facebook Post, Private Message or Comment. Yes, you can track them all:
As you can see, it's a game changer. Let's wrap this up!
Summary of Key Product Features to help you Prove Social Media ROI
Just to recap, here are a few of the key features of ROI Tracking in Agorapulse:
- Advanced Link Management to automate UTM features. This includes link shortening and ultimately makes it far easier to create your links, organize them and then track them using the tracking codes for social media.
- Data from a wide range of resources are pulled in to the single dashboard. This includes Google Analytics so that you can get an instant picture of your most important social media metrics and performance – all in one place.
- Detailed reports to help you visualize, understand and share your social media success with stakeholders – and validate the effectiveness all of the work you do!
Now you can save hours of wasted time hacking together Google Analytics and spreadsheets, and instead start being the MVP of your team! If you're working with clients you can prove the value of your content and if you are working in a team, you can make better strategic decisions.
Everybody wins with ROI Tracking, because now we can prove social media ROI.
Want a demo of ROI?
You can request a demo of ROI Tracking with Agorapulse's team here:
Want to learn more about Agorapulse?
Check out the comprehensive review of Agorapulse I did here:
Read to Prove the ROI of Social Media?
Agorapulse's ROI Tracking is a game-changing feature that will allow Social Media Managers to turn digital interactions into meaningful connections… and proven revenue! What do you think of it?
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