You've decided to make an investment in your business. You evaluated the alternatives, you accepted the costs and you decided this particular investment was the right one for your business.

You're about to commit a significant chunk of time, money, and resources to this. And, at least for now, you've decided this investment is worth investing in.

But later down the road, you'll need to decide whether this was a good, helpful investment that moved your business forward—or if it ultimately didn't accomplish what you thought it would.

To evaluate your investment later on, you need to answer: what does success LOOK like? What will tell you that this investment WAS a success? What are the measurements for success?

Is it new clients? New leads? More efficiency? More profit?

What are your GOALS for this investment and how will you know you've reached them?

Sometimes that metrics piece can be a little fuzzy. There's usually a lot of intangible benefits that come from investments as Michelle Mazur talked about in episode 46 with her rebrand. Investing in that professional rebrand and website paid off in credibility, speaking engagements, clients, and more. But sometimes that can be hard to get cold hard data on.

Social media is one of those investments you can choose to make in your business where the ROI isn’t always super clear. That’s why I invited Andréa Jones—host of the Savvy Social podcast, creator of the Savvy Social School, and an expert at social media—to talk all about measuring the ROI on your investments even if there isn’t a straight line from investment to payoff.

Listen to the full episode to hear:

How to measure and evaluate whether or not your social media strategy is "working"
How coaches, consultants, and service-based business owners can use social media as a tool for business connection
Why Andréa prefers tracking profile visits and link clicks over followers and engagement
How to evaluate your social media data—and why any strategy needs at least 3 months to see what works and what doesn’t

Learn more about Andréa Jones:

Learn more about Susan:

Scalespark Dollars + Decisions Roundtable
Twitter @ScaleSpark
LinkedIn @thesusanboles

Grab the Calm Service Design + Delivery Swipe File here

TCF Ep. 392 - Paul Friedman