Are you taking full advantage of social media marketing? Are you convinced that this is the gateway to bigger and better things? Although social media is the “hottest buzz phrase” around, it is essential that you do your best to effectively measure results and tweak your strategy accordingly.

What Are Your Goals?

Before you begin to measure the ROI of social media marketing, you have to set related goals. Are you most interested in gathering a large online following via services including Twitter and Facebook? While good enough for some people, others don’t care about this. Instead, the only thing that matters is whether or not social media marketing is leading to higher sales and profits.

Use Programs that Help Set Goals and Guide you

Regardless of what type of social media marketing you are interested in, getting help could be your key to success. For example, those who want to succeed on LinkedIn can rely on the popular LinkedInfluence program, which can help you find high-quality clients anddrive more traffic. The same holds true with affiliates who want to generate more traffic and results via Facebook – these people can get high level training through Amy Porterfield’s FBinfluence program.

Track Statistics

One of the best things you can do is track statistics related to your social media marketing campaign. This could be anything from the number of followers on Twitter to the amount of engagement you are receiving on Facebook.

As you track statistics, you can measure the results against your goals.

Google Analytics is the perfect tool for determining whether or not your social media efforts are driving traffic to your website. Not only can you see where your visitors are coming from, but you can get a better idea of which pages they are visiting and how much time they are spending on your site. Heatmapping software can also help you to see if your social media engagement tools are getting the clicks you need.

Trace Your Results

By using data from programs such as Google Analytics you can trace any results you may be receiving from your marketing campaigns. You may see a direct correlation between the number of tweets you send out and the amount of traffic that not only comes to your site but converts into a customer. In turn, you can focus your future efforts in exploiting this area.

In short, you need to track any and all data back to your site to determine overall performance.

What Does ROI Mean to You?

We can talk all day about social media marketing, tracking stats, and striving to reach goals. However, none of this matters unless you know what type of return on investment you are chasing after. When you know what you are trying to accomplish, it is easier to get moving in the right direction and determine if you are making the progress you are hoping for.

How do you currently measure ROI regarding your social media marketing strategy?