Everything in the universe has a mathematical equation. Everything. If you are new to social media marketing, you need to learn how to calculate social media conversion rates and use your answer to improve your social media marketing campaigns. Don't worry, you don't need to be Albert Einstein to figure out and understand social media conversion rates.
The equation for calculating social media conversion rates:
Divide the # of conversions by # of total views/ total reach of each post. Multiply that answer by 100 to know your conversion rate.
See, I told you it was easy.
Here is an example social media conversion rate math problem:
200 views for a social media post divided by 6 conversions ( contact form) = 0.03
Multiply 0.03 by 100= 3
What does that mean?
For every 100 views to your social media status you can expect 3 conversions.
Your conversion rates will vary based upon your business goals related to products, price point, location, market share and market reach.
You need to also keep in mind how much its costing your company to get each conversion. Are you breaking even? Are you losing profit?
Money, hours promoting and man power are all going to come into play with this budget calculation.
Here is a basic Return On Investment ( ROI) calculation you can try:
Cost of investment - Gain from investment = ?
Next divide ? sum by cost of investment = ?
If you're gaining $50,000 and only spending $10,000 that's a $40,000 profit. Divide that by $10,000 and you are making $4 for every $1 invested.
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I am Briana Booker, the Founder of www.fromgirltogirl.com , a lifestyle enrichment Magazine and Public Relations company all about female empowerment and entrepreneurship promotion. I do Professional writing for non-profits, government and the private sector. For each sector, I provide the following services: Social media management. Guerrilla marketing. Event planning. Grant Writing. Proposal Writing. Press Release Writing. Copy Writing. Research and Analysis. Editing. Blogging. Lobbying. If I lack a skill I am a quick learner.