How to calculate the ROI of your Social Media efforts

image of a woman holding fanned out hundred dollar bills to illustrate the importance of knowing how to calculate the ROI of your seocial media marketing effortsteTime is money. So if you’re spending a portion of your time managing a social media campaign it would be nice to know what kind of return you’re achieving on your investment.

As luck would have it, I came across an excellent blog post on Entrepreneur that explains how to calculate this.

You can use this process to gauge the value of a multi-platform social media effort as well as the ROI of each specific social media channel you’re employing. Armed with this kind of data you will be able to determine which campaigns are worth continuing and which ones should be shut down.

If you’ve got a few minutes, I encourage you to read “How to Measure Your Return on Your Social Media Investment”.

Photo credit: Tax Credits