How To Measure Social Media ROI
Posted: November 25th, 2009.
One of the primary reason for marketing professionals not using social media as much as they should is because there is not enough tangible ways to measure the returns on investment. So, what are those marketers who are already into online marketing via social media using to measure ROI? A survey of these respondents showed the following results
Web traffic/Response Rates : 31% (of respondents)
Qualified leads : 20%
Customer Loyalty/Retention : 14%
Brand Awareness : 13%
Revenue : 12%
Other : 10%
So, are all of these the better ways to measure ROI? Not necessarily. From a personal standpoint, social media engagement cannot be measured by revenue at all, since it is too difficult to gauge at what point the audience you engage with shall monetarily convert. The best means would then be responsiveness on your social media page, qualified leads and possible brand awareness.
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