If you think measuring the ROI of your marketing efforts on Facebook is next to impossible, here are three accurate methods to calculate it effortlessly.
Businesses marketing via Facebook pages rue the fact that there seems to be no way to measure their return on investment (ROI), where the investment is generally in terms of the money they put in to promoting the page and acquiring fans. 

Picture
However, you do not need any elaborate, technical setup to make accurate measures of whether your efforts are bearing fruits. In this post I’ll share three simple ways to measure the returns that sales campaigns on your Facebook page are giving your business.

#1 Audience Insights

The effect of brand exposure gained from your Facebook page can be best gauged by a.) the number of people who land up on your website because they liked what they saw on your page and b.) the amount of increase in sale of your product/services.

So, all you have to do is ask your customers how they heard about you when they fill out a registration form or purchase your product. 
Picture



#2 Exclusive Codes

Use specific codes within your campaign to track the number of sales that come via Facebook. For instance, I often order online from Domino’s Pizza. On their Facebook page they share codes that their fans can use while ordering to avail discounts. When I place my order and put in those codes, Domino’s knows where I came from (I’d probably not have bothered to buy that day, had I not come across that discount on my FB newsfeed. – Read more about the power of the FB page and how to ensure your page rocks.)
Picture


#3 Tagging URLs

Also called Tracking IDs, these are specific URLs that help you know where responses to your advertising campaign are coming from. If you create an ad on Facebook, you have the option to add a tag to your URL. For URLs within the posts you make you can generate custom URLs (do that here) and then check an elaborate report of how your campaign fared in google analytics.

Once you’ve used one or more of these methods to measure the sales from your Facebook campaign, substitute the resulting figure in this simple formula to calculate the ROI:

                                Sales from Campaigns

ROI = -----------------------------------------------------------

                Fan Acquisition Cost + Promotional Costs


How do you measure your Facebook page’s ROI? Share your method with other businesses using the comment box below.

Share, tweet and spread the word. Also, subscribe to this blog's feed (see the subscribe option in the sidebar) to receive an update when I add another useful and awesome post for your business.

Author: Urooj Kazi is a professional freelance business writer. To hire her to write content for your business, visit this website's Contact Urooj page. 
 


Comments

06/01/2013 9:56am

Invaluable Urooz! I'm looking forward to use those codes you mentioned and the other things I have learned from this post. I'll be alert on your next piece. Cheers!

Reply
06/01/2013 10:35am

Hi Anthony,

Thanks! You have a Facebook page?

Reply
06/01/2013 9:42pm

Yes, I have but I'm in the process of improving it. I'm glad you came out with this post.

06/02/2013 12:39am

I can't reply to your last comment, but if you are trying to improve your current facebook page, read the last section of this post (it is titled Facebook Marketing - How?): http://www.freelancewriterurooj.com/2/post/2013/05/facebook-marketing.html.

Best,
Urooj

Reply
06/01/2013 6:00pm

Hello, I've just discovered your site thanks to the Blogathon. I haven't gotten as far as using my FB page like this to promote sales, but this article was very interesting. I was wondering if you have any articles/previous posts on understanding FB stats?

Reply
06/02/2013 12:48am

Hi Meg!

Thanks for dropping by! If you don't want to delve into advertising to improve your FB page, check this post: http://www.freelancewriterurooj.com/2/post/2013/05/facebook-marketing.html. I think you'll find the last section "Facebook Marketing - How?" specially useful.

Is your page about your jewelry business? If yes, then you can make it look really beautiful with photos of beads and your newest creations and I don't see why you might not be able to make quite a bit of your sales from social media.

I don't have a stats related post - I'll try to get one done this month.

Good Luck with the Blogathon!

Love,
Urooj

Reply
06/02/2013 5:13am

Hi Urooj, i'm popping in from Blogathon2013, great tips here for Facebook. I've not used advertising yet or promoted posts but one for the future.

Reply
06/03/2013 4:23am

Hey Anne!

Thanks for dropping by. Good Luck with the Blogathon!

Reply
09/23/2013 7:19am

one of the better ways of marketing is email marketing

Reply
08/15/2014 2:12am

Great Information thanks for sharing :)

Reply



Leave a Reply

    Hire Me

    91-9969647868

    Subscribe to Feed

    Enter your email address:

    Archives

    June 2013
    May 2013
    December 2012
    November 2012

    Let's Connect!

    The WordCount Blogathon

    You May Also Like:

    Like:

    Online Marketing
    Add blog to our blog directory.