There is a lot of talk in the industry around ROI and what that really means.
Well in short it is return on investment. Therefore if you are making more than it costs to hire that person then it is a good return on investment. For example my prices are £597 per month right at this moment. Therefore if I drive more than that in business for you do you think it is worth it to hire me?
How do you know what business I am driving for you after all I do organic and that can be hard to quantify. This is right and simply it is the people that click from Facebook onto your website and make a booking but if you want to get complicated you have to take into consideration an attribution model especially if you have other people working on the account in different areas.
The way to track that is to make sure Google Analytics is set up correctly. You want to be able to track where people are coming from and what they are doing when they get to your website.
Analytics will tell you exactly how many people are coming from Instagram, how many are coming from Facebook and what they are doing when they get there. You can even set up a goal so that you can see exactly how many people from that source did what you want them to do when they are on the website I.e. Make a purchase.
If you want to find out more about setting this up and how to monitor your efforts on social then check out our brand new Facebook Adverts Course. This covers everything from tracking your ROI, creating adverts and setting up your strategy to get the most out of your posting.