A simple and effective way to measure your Facebook ROI
Right now, a bigger part of all world`s businesses are using Facebook to sell goods, connect with customers and advertise themselves to new users. More than 1,71 billion of people visit Facebook on a monthly basis, making it the third most visited website in the world. Someone can say that social media is ineffective for business, but it`s important for marketers to have a social media profile.
But unless you are tracking what you are doing, how much money you are spending and what results you are getting, sometimes it`s difficult to determine whether or not your Facebook ROI is actually working.
Facebook ROI, or Return on Investment, is a huge point in getting Facebook to your content strategy and keeping it there. The problem with Facebook ROI is that it`s different from classical online marketing. You can face problems while seeing the value of your shared posts compared to clicks on an ad.
We understand that this problem is huge enough to be discussed, so in this article we will tell you how to measure your Facebook ROI without any problems.
What is Facebook ROI?
Some readers probably don`t understand the topic clearly, so we`ve decided to start with the definition. Facebook ROI is what your company gets back from the time, money and other resources you`ve put toward social media marketing on the platform. ROI isn`t same for every user.
Before you start tracking your Facebook ROI, you need to establish social media goals. On Facebook, ROI is much more than just reach and impressions. You can measure it by different ways. The most popular way is to use Facebook ads.
Advertisements are probably the most powerful weapon in marketers` content strategies. Of the 50 million businesses with active Facebook pages, only 3 million are active advertisers.
The outcome of your Facebook advertising campaign will depend on the product you`re promoting, the audience you`ve targeting and the quality of your ads.
But we also shouldn`t forget about Facebook shares.
When it comes to return on investment on Facebook, shares are more valuable than likes. Shares extend your reach to individuals you may not have targeted. By clicking on the “share” button, they establish connection between themselves, the content, company that published it and their network.
How to track Facebook ROI?
You can easily monitor ROI by using Facebook`s page insights. Here you will be able to measure your reach, engagement and ad spend for each post that you published.
While Facebook page insights lets you see which post are receiving the most clicks, the easiest way to track referral traffic is to use Google Analytics. If you are a beginner and it will be your first experience, don`t worry – you will quickly understand what to do.
Try Sprout Social
With this tool, you will have an opportunity to monitor and analyze your success metrics. You are also able to identify your best content and have a better understanding of how it`s shared across the platform. There is an option of getting post-level insights, including the number of likes, comments and shares that your post receives.
Track your Facebook ROI
Well, that`s all we`ve wanted to say. As you see, there are no huge difficulties in measuring and tracking ROI on Facebook. Just use the right tools and everything will be fine. Good luck!