Everyone likes to talk about Return on Investment, but how many businesses are actually explaining and backing up their ROI with meaningful data?
At Barker Social, we also talk a lot about “ROI”—but we’re not just tossing it around as a buzzword.
There’s something important to understand about social media marketing: Unless you’re in e-commerce selling something directly online and you’re measuring the immediate sales conversions of your social media campaigns, measuring your social ROI is not straightforward.
Social media marketing is about brand visibility, and for most businesses it has to be measured differently.
We’ve isolated the two most important metrics that we track and calculate on a monthly basis in our detailed monthly reports:
Cost Per Exposure & Cost Per Engagement
These two metrics are an important part of our accountability as they demonstrate the return on investment that our clients are looking for: spend vs. result.
- A good Cost Per Exposure is somewhere in the range of $0.01 and $0.1. In May of 2017, the average Cost Per Exposure for our clients was $0.025.
- A good Cost Per Engagement is somewhere in the range of $0.40 and $1.20. In May of 2017, the average Cost Per Engagement for our clients was $0.75.