Where is the Money in Social Media (ROI)?
Marketers understand instinctively that if you talk to people nicely then they should be more willing to buy from you. But as @treypennington pit it “Happy feelings are not ROI. ROI means RETURN ON INVESTMENT.” MarketingSherpa has put thogether a 2011 Social Marketing Benchmark Report and in there you can see that people are looking for money.
The main priorities of the CMOs are now converting social media members into paying customers, achieving measurable ROI and generating leads from social media.
To get you started on measuring social media ROI please read our posts listed below and start putting your social media strategy on solid foundation using our step by step guide.
Planning Social Media resources. Social media activities often fail because miscalculated resources. There are three major components you need to consider: people, time and money.
Social Media ROI Will Become Important. Until now people have experimented with low budgets and without very specific goals. The bigger budgets will bring an need to show return.
How To Measure Social Media ROI. The number one thing about ROI is that it is measured in dollars (or in euros or any other currency you might prefer).
Social Media ROI Backwards (for B2B) …If you have thousands of followers on social networking sites then the obvious question comes up. How do we get money out of it?
How to Create Your Social Media Strategy? Get your strategy in place before you start. Here are easy to follow steps that help you give your social media strategy a solid foundation.
48 Social Media KPIs (Key Performance Indicators). You should set at least some metrics that indicate if you are turning profit. Otherwise you can reach your KPIs and still loose money.
Posted on: May 26, 2011