From the course: B2B Foundations: Social Media Marketing
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How to measure social media marketing ROI
From the course: B2B Foundations: Social Media Marketing
How to measure social media marketing ROI
- [Instructor] How to measure social media marketing ROI. Measurements are everywhere. If we're driving, we measure our speed. If we're trying to lose weight, we measure calories. We keep track of time until birthdays, anniversaries, and holidays. Understanding measurements in business is essential. Return on investment, or ROI, is a business performance measurement. It looks at the benefit or return of doing something. In numbers, it's usually calculated by subtracting the cost of doing something from the value you're creating, dividing by the cost of the investment and multiplying by 100 to get a percentage, which is an easier number to understand. So if you spent 100 pounds on a social media ad and it generated 1,000 pounds of sales, your ROI would be 900%. But if your 100 pound spend generated only 10 pound of sales, your ROI would be -900%. Your return didn't cover your costs. Now, these calculations are quite…
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