Social Media is no different to any other marketing in your business. You have to know what works and what doesn’t. You also want to build on what’s working so you improve your results. If you’re not measuring the ROI – or Return On Investment for any of your marketing efforts then you’re probably like many of us who get sucked into the day to day of the business and just getting it out there – but it’s money and time down the pan if you don’t look at what you’re getting back in terms of leads, conversions, sales and ultimately, the effect on your bottom line.
With other forms of marketing such as leaflets and advertising, there is a tendency to measure ROI, even if it’s unwittingly, because it’s prompted by an initial outlay of cash! But for many, mainly those who are managing their social media efforts themselves, the outlay is time – and that’s something we are generally a lot more relaxed about.
But time is money as the old saying goes and ROI is about making your time pay. Enjoy the info-graphic and we’d love to have your thoughts and questions – so please do comment:)