Tips to Measure Social Media ROI
According to a Webbiquity research, 46% of B2B marketers are not sure whether any social channels have generated business revenue for them. The research has also found that 60% of marketers see ‘measuring ROI’ as one of their top three social media marketing challenges.
Emarketer columnist David Moth has shared case studies and statistics that prove that it is possible to measure social media ROI.
On how to track the social media ROI, Moth says, “In reality there are numerous ways of tracking social ROI. For example, it’s great for brand awareness, customer retention, and customer service. But you need realistic goals and the patience to achieve them.
Most importantly (in my view), businesses need to accept that you can’t just ‘do social’. A social media strategy can’t exist in isolation.
Social media should really be used to amplify that which the company is already doing. If you don’t have a coherent marketing plan or content strategy, then your social media channels will be dull and struggle to find an audience. And if your company is rubbish at customer service because it doesn’t have the right processes in place, then social media alone won’t be able to fix that”.
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