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IN THIS CHAPTER

Estimating the cost of customer acquisition

Figuring sales metrics and revenue

Managing and converting leads

Breaking even

Calculating return on investment

In this chapter, you deal with business metrics to determine whether you see a return on investment (ROI) in your social media marketing services. In other words, you get to the bottom line! For details on performance metrics for various types of social media as parameters for campaign success, see Book 9.

By definition, the business metric ROI involves revenues. Alas, becoming famous online isn’t a traditional part of ROI; it might have a public relations value and affect business results, but fame doesn’t necessarily make you rich. This chapter examines the cost of acquiring new customers, tracking sales, and managing leads. After you reach the break-even point on your investment, you can (in the best of all worlds) start totaling up the profits and then calculate your ROI.

To get the most from this chapter, review your business plan and financial projections. You may find that you need to adjust some of your data collection efforts to ensure that you have the information for these analyses.

If numbers make your head spin, ask your bookkeeper or accountant for assistance in tracking important business metrics from your financial statements. That person can ensure that you acquire the right data, set up spreadsheets to calculate key metrics, and provide regular reports — and then he or she can teach you how to interpret them.

You don’t want to participate in social media marketing for its own sake or because everyone else is doing it. The following sections help you make the business case for yourself.