As an entrepreneur, are you on track to run successful social media campaigns. But the question arises: is the time or money invested in your social marketing campaigns paying off? What is the result even after spending hours on your social networks, you still don't know if it is successful or not. Therefore, it becomes crucial to have a proper strategy that could help you measure social media return on investment (ROI) with Google Analytics UTM.social media return on investmentIf we go with the definition of social media ROI, it refers to actions that facilitate to you the value you or your business has earned against the resources you have invested on social media. In other words, it's the math that tells you if the money or time you spend on social media is worth the investment. Today, when competition has stiffened to reach potential customers, calculating social media ROI is important because you can:Recognize the influence of your social media campaigns on your business resultsDetermine where your resources are used efficientlyDetect the drawbacks of your social media campaigns and fix them permanentlyYou simply can't just focus on driving immediate conversions; it's essential to take a look at a few other metrics to calculate your social media ROI.
Google Analytics can be a consistent and powerful tool for social media ROI calculations.Step 1 - Develop an ROI StrategyBefore jumping into Google Analytics, it's worth taking a moment to decide on the goals of social media marketing. Predetermining objectives before launching a campaign and measuring its return on investment is essential. 66% of organizations believe that their social media strategy is unrelated to their business results. The key objectives for setting up social media campaigns are:Generate trafficDrive conversionsImprove customer loyaltyGo to Google Analytics and access your account by following the given steps:1. Click on the Admin tab .2. Click on the Goals tab in the 3rd column and go to the red “+ New Goal” button.3. You will get the Phone Number List many templates, but just select "Custom".4. Click the blue Continue button.Description of the objective5. Give your lens a nameSelect the name of the objectiveAfter adding the name, you now need to select the lens type.
Read more: – Google Algorithm Updates – Google plans to crack down on fake newsStep 2- Create your marketing source codesOnce you are very clear on the objective or purpose, you can add additional marketing source codes. The great aspects of these codes are that they allow you to track every social media post that is ideally meant to drive customers to your website.Google Analytics uses five standard dimensions for a campaign that you can incorporate into the query string of each social post's URL. Let's look at the example:http://www.domain.com/landing_page.php?