No matter how big or small your business, the secret to improving your ROI is to keep up with digital marketing trends. Social Media Marketing has matured to the point where measuring ROI is not only an important part of your marketing strategy but also a key part of your business strategy.
ROI in Viral Content
The only way to know how profitable and effective your content marketing efforts really are is to measure ROI. Calculating ROI allows you to analyze the revenue your social media efforts generate and what they cost you.
Note, however, that content marketing ROI is distorted because it does not take into account content that has been purchased or unpublished. By measuring the ROI of content marketing, you can easily see how much your brand is spending on content marketing.
It’s a lot of work to track all the different indicators that help with sales and conversions, but if you increase the ROI of your content marketplaces, you can start the earnings analysis in a much easier way.
Why do you need to know your ROI?
Knowing ROI puts you in a much better position to understand which content marketing generates a positive overall ROI and which specific forms of content outperform others and then double to them. It also requires a lot of understanding of how each piece fits into a larger strategy to gauge its success because you need to round out how your content strategy affects your business.
But knowing this can help you to adjust your social media and viral marketing to create a more positive ROI for your business.
Understand the measurements of ROI
If you take the time to think about how to measure, track, and report ROI, you’re well on your way to developing a powerful social media strategy. Using tracking technology such as Google Analytics or Oribi can help you to better understand how your viral content is affecting overall traffic to your website, and in turn, your resulting conversions.
Making sure to also factor in your KPIs for your business will help you to better understand if your ROI has been achieved or not.