Why Should Medical Businesses Focus on Social Media ROI

Social media is an excellent platform for digital marketing for healthcare. Today, digitalization plays a crucial role in the healthcare industry and has become more and more integrated into the healthcare industry. Physicians for instance, are beginning to realize the importance of social media in improving patient experience. Social media has become a vital component for medical businesses and social media marketing techniques help them connect with their customers and patients easily. Social media marketing is also a great way to create new leads and ultimately increase ROI.

Social media is a high impact marketing channel and measuring and tracking social media return on investment lets marketers dedicate more time and resources into it.

Social Media ROI and Its Importance

In simple terms, social media ROI is what your medical business gets out of its social media marketing efforts. The formula for social media ROI might look like:

Profit/ total investment (people hours, ad budget, etc) X 100 = Social media ROI

The ratio between gain and costs like labour, training, social media technology, agencies and consultant, social media advertising budget etc also helps in calculating social media ROI.

Calculating social media ROI:

• Proves the value of social media to your organization's overall goals and business objectives
• Helps in determining where resources are being wasted or used inefficiently
• Shows where your efforts and resources are being used
• Helps in recognizing gaps in strategy, key messages and content

Social Media Goals for Better ROI

• Social media engagement: Basic measures to increase social media engagement is through the number of likes, shares, comments, retweet etc and advanced measures are bounce rates, amplification rate etc.
• Better customer acquisition on your website: URL clicks and traffic from social media are the common measures, and advanced measures are share of traffic driven and leads generated.
• Increase brand awareness: Follower growth rate, percentage change overtime in followers, Twitter sentiments etc are basic measures, and conversion rate is the advanced measure.

Social media marketing is one of the best ways to engage with your customers and a reliable provider of medical SEO services knows the right strategies and techniques to target potential patients and clients, which helps in achieving better social media ROI.