How to determine ROI for Social Media? Please Help

Hi,

Now a days Social media is booming like anything. I have few doubts about social media. Please Question are as follows


1. Is Social media is really a good online marketing channel to drive traffic and quality leads?

2. How a business can take advantage from social media?


3. What are the ways and means to followed to drive traffic from social media?


4. How long it will take to drive a good traffic & return from social media?


5. How to determine ROI for social media?

Please Help!

Thanks in advance

Answers for question 1, 2 & 3:

1. Is Social media is really a good online marketing channel to drive traffic and quality leads?

Social Media Marketing (SMM), as its name implies, uses social media such as forums, wikis and blogs as a marketplace to sell ideas. What happens is that the content regarding a product or service is “published” in different social media related to it.

2. How a business can take advantage from social media?

The more people visit your website, the more chances that they become your customers, and the more profit.

3. What are the ways and means to followed to drive traffic from social media?

Here’s a simple example.

A person can increase traffic in his own humanitarian-oriented blog by “publishing” its URL/link at forums, wikis and other social media related to humanitarian. However, in publishing contents and URLs, one has to abide by the rules and regulations of certain social media.

Yes it is, if done properly and judiciously. Here you can find many peoples with different verticals sharing their ideas and opinions. You can drive huge traffic by posting fresh & interesting content, answering the queries the people have, join the related networks. Make your presence felt in your area of expertise so that people can contact you. You can get quality leads. Don't directly try to sell your product. It can help your business but also damage it if done badly.

How long it will take to drive a good traffic & return from social media?

It depends upon how you participate in social media. We cant frame a time limit for it but it will surely benefit you in the long run if done properly.

Hope it will help you

Dennis John

How do I determine the ROI of social media?

The first figure I need to know is how much revenue comes from social media.

* Track the traffic by it's source using different tracking URLs (different destinations) for links that you post in social media.

That will allow you to determine the share on your overall revenue.


* If you want the ROI you need to figure how how much you put into social media.

** Are you posting yourself, or are you outsourcing that part. Simply set your hourly rate and multiply it with the time you spend doing social media work.

I know it might be hard to determine your rate properly. Simply start out by taking your total earnings and dividing it through the time you are working.

Eventually you will see quickly that you could and should outsource some of the social media work to a virtual assistant.

I hope this helps
John