If your company is active in social media, chances are at some point, you had to sell the idea to someone higher up on the food chain.
And chances are that sales pitch involved some kind of promise of ROI.
And I’d be willing to bet that you’re occasionally asked how all that social activity is paying off in terms of revenue.
I’ll let Dan tell you how this nifty free tool came about. In the HubSpot blog post introducing ValueofaLike.com, he writes:
A while ago, in a HubSpot marketing team meeting, we were discussing how much we should be willing to invest to gain a new social media follower or Like, and I found myself at the whiteboard plotting out a formula. Over the course of the next few weeks — with the help of several of my geeky colleagues — I put together a formula to calculate a metric I call VOAL (Value Of A Like). Once you know your VOAL, you can plan your social media efforts with confidence they’ll generate a positive ROI.
Dan goes on to present the formula used to determine VOAL (check out the post if you feel the need to get your math nerd on), but thanks to his handy tool, knowing how it works is purely optional. Answer 6 simple questions—he even tells you how to find the info—and you’ll wind up with a solid VOAL figure to present to the higher-ups.
(Note: The image below is a screencap only; visit ValueofaLike.com to try out the real thing.)
Simple, easy, and effective—everything a measurement tool should be, right?
Click on over and give ValueofaLike.com a spin … then check back and let us know what you think in the Comments. We’d love to hear from you!
Sure, the expertise you need to improve your business’ social media performance is “out there” … but who has time to dig for it?
Here at Resonance, we’re committed to your success in social media marketing, so each Friday we deliver a simple but impactful tip to boost your engagement on Facebook, Twitter, LinkedIn, and other social networks. And you can implement it before lunchtime.