How do I calculate the conversion rate?

To calculate the conversion rate, divide the total number of conversions by your desired metric (clicks, ad impressions, sessions on-site, etc.).

Your KPIs will indicate how well or close you are to meeting your goal. For example, if your goal is to increase the number of purchases for an eCommerce site, one target KPI is the number of customers who land on a “Thank you page” after buying an item.

You can also track KPIs for consumers who are close to meeting a conversion goal and then take steps to ensure the completion of your goal. For example, suppose a customer adds an item to a shopping cart but abandons the cart. In that case, you can use a retargeting campaign via Google AdWords to display ads for abandoned items and increase the chance of a conversion.

How Do You Find Social Media ROI?

With social commerce, you can bypass many traditional purchasing routes by using built-in e-commerce features, such as Instagram Shopping or Pinterest Shopping Pins, and marketing your products to an existing and engaged audience.

Essentially, social commerce allows businesses to engage users where they already are and turn their social media engagement directly into sales.