Social media ROI is not a myth – it can be measured.
It’s not necessarily as clear-cut as in traditional media, but if you define what you want online marketing to achieve for your business, you can use the appropriate social media channels to execute your strategy (is that LinkedIn? YouTube? Twitter? Blog? Facebook? Newsletter?), and then measure the results.
What you measure depends on your destination. What are you trying to achieve?
- grow brand awareness
- create community
- increase reach
- reduce customer service costs
- increase web traffic
- increase sales
Your social media goals measure:
- share of voice, sentiment, key influencers
- clicks, retweets, shares, @replies, comments, likes, photo views
- downloads, webinar attendees, lead generation forms, calls to action
This slideshare presentation is a great tool explaining social media return on investment in simple terms, with a restaurant case study to illustrate how ROI works in a real-life example.
SMCHI – Social Media Analytics Road Map
View more presentations from Tara Coomans
You can also check out Tara Coomans’ blog post “Yes you can measure social media ROI” to read the article and watch the social media conference video that accompanies this Slideshare presentation.
What do you think? Did this make it any clearer?
If so, please share it and help de-mystify social media to others too!
