After being an active member on the social platforms for more than 4 years now and after working in a social media company for more than a year I have gather a lot of knowledge about social media and how it works and what it can achieve. Social media for businesses started as an experiment and now it is a full-fledged marketing strategy for business houses either big or small. Social media marketing is so impactful that now it must compete with other marketing strategy for budget, resource and respect. In other words, social media must prove its return of investment just like other marketing modules.
With social media developing as marketing strategy, entrepreneurs are making this as thriving business. More and more social media marketing companies are coming up and more and more businesses are becoming aware of social media marketing. Even 2 years back people weren’t sure about marketing through social media. But now the times have changed and brand recognition is not a problem anymore all thanks to social media marketing but still social media marketing is proving its ROI. In my years of working in social media company I have learned that tracking your ROI is very important as it is no use wasting resources on something that is not working rather we can put in that same amount of resource into something that is doing well and to identify the problem that is causing some tactics to deliver poor returns.
Before I go on to say why I think tracking your ROI is important I must introduce all those who do not know ‘what is ROI’ to this term. ROI in social media is defined to measure the efficiency of social media marketing. Social media marketing is not always measured or seen if it is quantifiable. A social media marketer knows if the campaign is working or not just by keeping a track of the engagement it has. Let’s move on to why tracking your ROI is important.
Some Reasons Why I Feel Tracking Is Important:
- Proving social media’s goal in fulfilling your company’s goal and business objective.
- By tracking your ROI, you can see whether your efforts and resources are being used in an efficient manner.
- You can also know if your resources are being wasted or if it is not being used to its full potential.
- You can easily point out the gaps in your marketing strategy, content or that missing factor in your visual.
- By tracking, you can show your organization where the social media budget is being used to maximum and where you can cut it down.
If you are working in a company that provides social media marketing services and you are being grilled by your boss for your posts not doing well this little tactic can save you from all that grilling.