Once you’ve measured the value created based on your chosen metrics, you can move on to calculating the cost side of the equation. Social media costs should include all expenses required to create and publish content. These expenses may include: Tools and subscriptions for social media management Advertising campaign budgets Content creation costs, including tools, assets, licenses, and fees for working with creators or freelancers The ongoing costs for your social media team (salaries, training, etc.) Agencies and consultants (if applicable) Before adding up your costs, you should know the returns you’re looking for. This may be based on a specific time period, campaign, post format, or otherwise. This will help you narrow down which costs to include in your total.
Calculate your ROI
You should be ready to input your total value and costs into the formula above to calculate your ROI. If you’re not a fan of spreadsheets or business email list manual calculations, we’ve built this free social media ROI calculator. Remember, a positive ROI means you profited from your investment, while a negative ROI percentage means you spent more than you made.
Create an ROI report that shows the impact of social
Now that you know your ROI, it’s time to share those results. Your report should show stakeholders how your social media AUB Directory efforts impact the bottom line. Here are some ways to make your report stand out. Use a report template. Use plain language avoid jargon and acronyms Tie social results back to relevant business objectives Use KPIs to track short-term progress Call out assumptions and limitations, and be clear about what you can and cannot measure