6 Ways to Track the Impact of Social Media on Public Relations
It is common thought amongst small business owners that it is very difficult to measure your return on investment for social media efforts. This is in fact a myth, as today's blog article shows. The best way to show impact is to look at how social media has affected the cost of marketing efforts.
But that's not the only way. The following article explains how you can determine ROI through features such as 'Cost per impression' and 'Cost per Click'. Tracking these numbers through an excel sheet will help establish growth. This will ultimately help you quantify your social media hours into a dollar amount.
If you own a bakery and can make $10 an hour making bread, and using social media has saved you $1,000 in marketing efforts, than you can determine the value and how much of your time is spent with social media. After all, while free in cost, social media takes up a lot of valuable time, so it's important to make sure it's worth it.