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Determining ROI on Viral Video and Social Media Marketing

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Return on investment (ROI) for viral video and social media marketing is difficult

to determine since the benefits of viral and social

media marketing can be difficult to quantify.

However, we can measure whether a campaign’s ROI is positive by making

a realistic assessment of costs upfront and establishing well-

defined goals.

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First Step: Goals

The following are achievable goals for viral video and social media marketing:

The first step in determining ROI for viral video and social media marketing is defining achievable goals for the campaign.

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Achievable Goals

• Increase subscribers, fans, followers: A short and long-term goal to create an ongoing base of consumers and influencers on social networking sites.

• Accumulate desired video views: The number of desired views is based on the approach, investment and channels used for distribution. Decide how many targeted, national, international views are required to achieve what percentage of conversions.

• Increase website traffic: Engage your subscribers, fans, followers via social networking and videos enough to make them want to visit your company website and learn more about your brand.

• Increase consumer engagement and interaction: A long-term goal that maximizes time spent with your brand and results in increased sales.

More goals

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• Increase conversions: After attracting viewers, decide what needs to be done to increase conversions. Specify what percentage of the total views will take the desired action. Also, know converter behavior and attitudes.

• Reduce marketing costs: Viral marketing can be a more cost effective alternative in the short and long term as content remains on the web, continually working and spreading your message.

• Increase bottom line sales: The ultimate goal for most businesses.

Once you have defined campaign expectations you can determine the budget

necessary and what tactics you will use to achieve

those goals.

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On social networks and video sharing sites such as YouTube, users’ online lives collide with their real lives

when videos, posts, and tweets appeal to them. 

The personal nature of video and social media marketing makes for a more qualitative assessment in terms

of ROI.

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Define the tactics you will use to achieve the goals. These tactics should include:

• Creating and promoting viral content.

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Tactics

• Expanding online presence in terms of buzz/pages.

• Building relationships through engagement.

Another option within your tactics to be considered is paid media vs. earned consumer

attention. Paid offers the value of an automatic view guarantee and paid seeding can

often help build a viral campaign.

In cases where the goal is to reach a highly specified target, paid seeding can be a huge asset in accomplishing this goal. Purely organic viral marketing requires an ample

amount of time researching targeted channels within social networks and sharing sites.

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Paid Media

Your budget must include paid media costs if you want to venture into paid media marketing, and your budget must include the cost of

someone’s time if you are going the organic route.

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Paid vs. Organic in Budget

Once you have implemented your viral video and social media marketing campaign, keep track of whether your goals are being achieved via analytics and other monitoring tools.

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After your campaign has concluded, or has been going on for a designated amount of time, you can simply ask, “did

we reach our goals?”

If the answer is "no" determine where the problem is and adjust accordingly.

•Was your target audience being reached?

•Did you engage enough?

•Was the call to action after viewing clear and easy?

Once you pinpoint the problem you can fix it and continue the campaign, or make sure to address the problem next time around.

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If the answer is “yes” and your goals, by design, exceeded your investment, then you will have

earned positive ROI!

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