Do you struggle to determine an accurate ROI in social media marketing? Wondering which of your social media campaigns are most profitable? It’s important to know whether the money you’ve invested in your social media marketing has provided a return that’s worth what you’ve put in. In this article, you’ll discover five tools to help you accurately and completely measure your social media ROI.
Customer Lifetime Value Calculator
While plenty of social media campaigns prioritize sales or on-platform engagement, social media is frequently used to connect with new audiences and generate new leads. If that’s your goal, it’s a good idea to calculate your approximate customer lifetime value (CLV). You can use the Customer Lifetime Value Calculator to find out not only what a new lead is costing you, but also whether it’s worth it.
RJ Metrics’ Cloud BI
For a more in-depth analysis of CLV, try RJ Metrics’ CloudBI. The tool not only automatically calculates CLV, it will even break the CLV down to show the social media channel that sent you the customer in the first place.
RJ Metrics also offers amazing features like churn analysis that gives you insight into your customers’ behaviors, and analysis about marketing ROI as it pertains to customer acquisition cost.
Google Analytics allows you to see where your traffic is coming from and how visitors interact with your site, including the visitors coming from social media.
You can track the response to different social campaigns and see which are more successful at moving users to and throughout your site, as well as tracking specific conversions.
Cyfe is an all-in-one reporting tool that provides an insane amount of information about how your content is shared across social media and the impact it’s having on your overall ROI.
You can use widgets to create multiple customized dashboards where you can see the reporting on Facebook ads, Twitter engagement, Shopify orders and sales, or Google Analytics. The categories of widgets to choose from include advertising, blogging, email tracking, social media, and more.