Much like any form of marketing there are aspects that can be measured and others that might require more guesswork. While the exact calculations may not be entirely accurate, avoid hiring any agency, consultant, or employee claiming that ROI measurement is impossible.
There are several KPIs that can be measured to evaluate the success of your campaign, and include engagement per post, reach, clicks and conversion. These can often be measured using free tools and depend on the goal of the campaign.
Sentiment and brand awareness may be pretty difficult to measure, but there are some paid tools out there that analyze online chatter and deliver a pretty good ballpark figure.
Lastly, it is important to note that social media is a long-term effort rather than a magical overnight solution. Therefore the success of each social media marketing initiative should be measured over time at specific time intervals.
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