How Lawyers Can Calculate their Social Media Marketing ROI
If you use social media to promote your law practice, you should routinely calculate your social media marketing return on investment (ROI). Calculating your ROI helps to determine whether your social media marketing campaign is effective. For example, you do not want to consistently invest $1,000 into a Twitter ad campaign that nets no new client leads. Read on to learn how lawyers can calculate their social media marketing ROI.
Calculate Your Social Media Marketing ROI
In order to calculate your social media ROI, you must first establish your social media marketing goals and objectives. For example, your goal may be to generate more traffic to your website. To measure the ROI for this goal, routinely monitor the traffic flow to your website throughout your social media marketing campaign. Use website traffic tracking tools such as Google Analytics to measure how many people are being referred to your website through social media channels.
Some common social media marketing goals consists of generating new client leads, increasing brand awareness, increasing followers, and/ or connecting with more legal professionals. The formulas you use to calculate your social media marketing ROI will differ for each goal and social media network you use.
What Should You Measure?
Once you determine your goals, find a formula to help you measure your ROI. I have provided several links below for you to calculate your social media marketing ROI. The calculations will differ based on what goals and objectives you seek to measure and the social network you use. Let me know what you think about the calculators.