9 Simple Calculations to Help You Measure Social Media ROI
No one has been able to come up with a one-size-fits-all solution, and I attribute that primarily to the fact that everybody has different goals of what they want from social media.
Below, I’ve posted nine simple calculations that can help you in your endeavor to measure social media ROI. These equations can help you put some tangible numbers next to your social media efforts.
WARNING: Basic math will be required
(note: some calculations may say tweets/posts or shares/retweets, but they can be switched out in any equation and some are platform-specific)
How to Calculate Social Media ROI
Problem: Do people value your content enough to share it?
Solution: Total tweets÷ Total retweets = Retweets per Tweet
Problem: Does your content drive desired actions?
Solution: Total tweets ÷ Total tweets clicked = Clicks per tweet
Problem: Are your customers engaged with your content?
Solution: People are talking number (from Facebook analytics) ÷ Number of Facebook fans = % of fans who are engaging with your content
Problem: Are people converting their interest in your brand?
Solution: Number of quitters (from useqwitter.com) ÷ Number of Twitter followers = % of Twitter followers who have unsubscribed
Problem: What type of content should you be posting?
Solution: Total Facebook posts (of one type) ÷ Total engagement (views, shares, etc.) = Engagements per post
Problem: Do you have the best follow to follower ratio?
Solution: Total followers ÷ Total people you are following = Twitter following ratio
Problem: Are your customers committed to you?
Solution: Total Twitter followers not following you back (use manageflitter.com) ÷ Total followers = % of Twitter followers not following you back
Problem: Are people sharing your content?
Solution: Go to search.twitter.com and enter “RT @Your_Handle” = Total number of times your content was retweeted
Problem: How many people are seeing your content?
Solution: Number of people who have seen your Facebook post ÷ Your Facebook fans = % of follower who have seen your post