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How to Measure the ROI of Facebook Social Campaigns
Posted on November 26th 2013
We often use our DigitalSherpa blog to share tips on how your business can enhance its social media marketing strategy, and one of the most effective ways to do this is to embrace social campaigns. Not only can social campaigns allow you to grow your online audience, but they can play an instrumental role in getting consumers interested in your brand and ultimately aid in boosting sales.
Something that we love about social campaigns is that, when properly set-up, you can measure your return on investment (ROI) of this strategy. Since Facebook contests are some of the most common types of social campaigns, we wanted to share some tips for effectively measuring your ROI on your next Facebook contest:
- Lead Generation: Probably your underlying intention of running a Facebook contest is to earn more qualified leads/sales for your business. To do this, require participants to provide their email address and other important contact information to enter the contest. For the best results, make the barrier to enter your contest low by requesting the least amount of contact information necessary to still be able to effectively follow up with the lead. To make sure that the contest participants are genuinely interested in your brand, you NEED to offer one of your products or services as the prize. Gift cards to your business are highly recommended as they generally do not isolate a particular group in your target audience. You can measure the success of your campaign by the number of new contacts or leads that you earn.
- Facebook Likes: Increasing the number of fans that “like” your page on Facebook is one of the fastest ways to build credibility with your target audience, and a Facebook social campaign is an excellent solution for accomplishing this. Simply require people to “like” your page on Facebook to enter your contest. Taking note of the number of likes that your brand’s page has before and after the campaign can help you to measure its success.
- Customer Testimonials: Another idea for a social campaign is to reward your customers for writing a testimonial to your brand on your Facebook page. Since people crave third party validation, this will go a long way in helping to build trust and credibility for your brand, ultimately earning you more business. Take advantage of Facebook Insights to measure how your page is performing both before and after you earn some customer testimonials.
While many businesses make the mistake of not measuring their social media ROI, doing so can help you to be more intentional and effective with your social media marketing efforts.
Have you run a social media campaign before? Was it on Facebook or another platform? We’d love to hear the details of the campaign and how you were able to measure it’s effectiveness!