We get asked all the time, “How can you prove that those likes on Facebook translate in to £’s in my bank?” and the statement, “I tried Facebook before, and it didn’t work” is not uncommon either. The fact of the matter is that ROI (Return on Investment) from social media is difficult to track, that’s why we have Google Analytics. If you want to make sure you see a great ROI from Facebook, make sure you have a great relationship with your back end!
We could easily say that somebody, let’s say me, would get absolutely zero ROI from a pair of expensive football boots. I think that’s fair to say. However, David Beckham would disagree; it’s a terrific investment with an enormous ROI. The difference is how we put them to use. David Beckham would train hard in his new football boots leading to goals, recognition, contracts and endorsements.
To the person who tried Facebook and found it to be useless, perhaps it’s a case of putting football boots on a writer – wrong tool, wrong method of use. We would suggest that perhaps a little more back-end research into what was being posted, when it was going out, what hashtags were being used and actually digging into the results to analyse what worked and what didn’t, would be the way to go.
The fact is, Facebook works. If it didn’t for you previously, then you need to know why – alter your methods and try again. Not forgetting to analyse those changes down the road, of course.
Analytics are facts
Before you start posting, be clear on what you’re talking about and to whom – who are your audience and what do they want/need to know? Consider a themed template for each week or month, which should help you stay focussed on the issues or targets at hand. Have clear goals for what you want to achieve: more followers, sales, page clicks etc. If you theme a hashtag for the month, make sure you actually search that hashtag and check it’s a). Relevant and b). Safe to use.
Have a look at the insights tool on Facebook and maybe set aside a budget, which could be less than £20 for boosting the most popular posts, or at least make note of the popular subjects and maybe repeat the posting at a different time of day to see how that compares.
At the end of the month go into your website’s analytics tools and have a look at how the website engagement has changed. Save this information, make changes for the following month’s posting schedule and compare after two months, three months and so on. The more you look, the more facts you will attain and the more you will learn about your audience’s tastes for social media, including when they’re active.
Money in the bank - Does my back-end look big in this?
As for proving those clicks turn into pounds – that’s a tricky one. Its conversions we need to talk about, and you determine what a conversion is within your business. From here, we’re back to Google Analytics who will show you the exact number of link clicks (from your Facebook posts) that resulted in a purchase.
Set up your goals in your back end by going through ‘admin’ and of course it’s all about looking back over time and measuring the data. There’s loads of great advice from Google here. Don’t be deterred by unfamiliar territory, it will all make sense if you follow a pattern and you can’t do any harm by having a look.
Getting used to dipping in and out of analytics and gaining insight, is the only way to prove you’re getting a good ROI from Facebook. Use the social media platforms as a testing tool. Many digital marketing tools charge extra for A/B testing options, but your social media can do just that for you, for free.
Let’s get experimenting!