Most traditional businesses on social media marketing worked on assumption that it is hectic to tell the exact amount of their investment. But due to various changes that have taken place in the marketing environment, marketers have adopted the social techniques for easy determination of their return on investment. This paper has discussed how to measure the returns on investment in social media using Google Analytical Approach. Before the implementation of new marketing techniques and strategies for measuring return on investment on social media, it is prudent for social media marketers to fully understand and be complacent with steps to be followed when measuring their returns on investment. The stages includes: formulation of objectives to be achieved and definition of key performance indicators, crucial decisions making using social data, synthesizing the social data to compel content marketing, implementation of the social relationships and using local sources to identify and learn more about their target audience.
Formulation of objectives to be achieved and identification of key performance indicators is the starting point of measuring the return on investment on social media. This stage involves strategic planning and giving reports concerning investment in social media since the success of any social media marketing business activity being undertaken. This pr
Crucial decisions making using the social data is the second stage in the measurement and calculation of return on investment on the social media since data is only useful when it is applied. These social data enables marketers to correct the assumptions that had been made though observing and mining data. Therefore Google Analytics methods applies data on the websites to disclose other social sources and assist in the identification of the social networks which create more congestion Calculation of the owners reach is the most second stage of measuring the social media return on investment. This process involves calculation of brand reach and the product content reach. The product content should be fully understood by the existing fans and product followed
Social data Implementation to compel content and brand marketing is the next step in the measuring of return on investment on social media. This stage involves critical analysis of comparison charts so as to get reports on content and brand which assist the marketer to understand the social networks which attracts most valuable visitors and even the most relevant content to those who will continue visiting that site.
Leveraging social relationships involves deterring returns on investment in social m the effect of close relationships with the audience over a specific period of time
The use of social sources to understand the audience is the last and crucial stage of measuring returns on investment in social media. The stage involves through analysis of the number of pages viewed by the audience, the duration of visit and even the number of pages per visit the measurement of analysis should be in every interaction, there is human
Though it has never been easier to measure returns on investment in social media, through analysis and proper implementation of the stages listed above should be done so that the objective is fully achieved in social Medias.
Rebecca murtagh. (2013). Steps to Calculate Social Media ROI Using Google Analytics
Retrieved from http://searchenginewatch.com/article/2233490/5-Steps-to-Calculate-Social-Media-ROI-Using-Google-Analytics.
Blanchard, O. (2011). Social Media ROI: Managing and Measuring Social Media Efforts in Your Organization. U.S.A: Pearson Education.