Measuring your social media ROI (return on investment) helps you determine if the efforts you put into social media marketing are Image Masking paying off. Spending on social media marketing is on the rise. In fact, social media spending, according to eMarketer's 2019 US Social Trends Report, is expected to reach 19% in 2019. That would give us a total of $37 billion in ad spend. And Image Masking based on Zenith's ad spend forecast, the numbers are expected to reach as high as $329 by 2021, or 49% of global ad spend. You see, marketers are obviously investing more in social media strategies and online advertising than ever before.
Even so, only 20.3% of marketers say they can quantitatively prove the impact of social media marketing. It's because they don't know how to properly measure social media ROI. Your social media ROI tells you which social media channels and Image Masking techniques to focus your resources on so you don't waste time or money on anything that doesn't drive results. Analyzing your return on investment is an essential part of determining which marketing tactics work for your business. This helps you get an overview of which marketing efforts to move forward with and which ones need to Image Masking change. social media ROI The easiest way to measure social media ROI is Profit/Investment × 100 = ROI as a percentage.
So if you made $500 off Facebook ads and spent a total of $500 on ads, that would be $500 / $500 × 100 = 100% ROI. However, this simple formula only works if you want to look strictly at revenue. Social media ROI typically includes other Image Masking details like follower growth, engagement, and brand awareness, all of which are important to running a successful business. After all, value cannot always be calculated simply in dollars and cents. Your social media efforts could pay off whether or not you see a direct and immediate increase in revenue. social media ROI Calculating your total social Image Masking media ROI can be tricky, but it's totally doable. The good news is that your friends at LYFE Marketing are here to teach you how.