Small Business Marketing Tip: Measuring the ROI of Facebook
Just like any other marketing tool (TV, Radio, Newspaper, etc), you can measure the ROI of Facebook. In order to do so, you have to develop specific goals that you want to measure (ie, sale of a certain product) and then a strategy to sell that product.
Not every aspect of Facebook can be measured in terms of ROI though. Consider this, can you measure the ROI of your secretary? Can you measure the ROI of a customer service representative who handles customer phone calls, comments and complaints?
If you want to measure the ROI of Facebook, you need to get specific. You can measure sales of a certain product by introducing an online promotional code called ‘FACEBOOKFRIENDS’ or ‘FACEBOOKPRODUCTX’. Use that code only on Facebook and then at the end of the month (or sales period) see how many sales were generated using that code.
For more info on Facebook marketing, email stacey@tcr-marketing.com
