What is ROI?
The acronym for Return Of Investment indicates the return in numerical terms of the investment made. The formula to calculate it is as simple as it is clear: the difference between the economic result and the capital invested in the activity.
But let's be clear: when I talk about investment you have to evaluate the term globally, considering all the resources spent . For example, an investment is not only the cost of advertising done on Facebook, but also the organize your finances with mint person who manages the page, the graphic designer who creates the post and the professional who develops the strategy.
An approach that cannot be ignored when we evaluate the return on investment produced, because it allows us to fully consider the activity you have done and, above all, in relation to the different activities implemented by the brand. For this reason, it makes little sense to ask what the ROI produced by our LinkedIn page is, but rather that produced by moving 20% of sales resources to a dedicated project on LinkedIn.
For this reason, you must start from the objectives and understand how to contextualize them to the social channels and the strategy you adopt. Afterwards, but only afterwards, you will establish the KPIs, the indicators that will help you understand the progress of our activity.