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Scoop.it!
Almost every company puts much money and effort behind social media strategy, with goals ranging from enhanced brand awareness to direct leads or sales. But while 97 percent of those surveyed said they use some form of social media marketing, only 37 percent reported being able to measure ROI—and this problem extends to even the largest marketers, 78 percent of whom said they struggle with this measurement....
Jeff Domansky's insight:
How are you measuring up in your social media? This infographic covers the best practices, tools and tips. 
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Scoop.it!
When it comes to proving the ROI of social media it isn’t as hard as you might think. The key is to ensure you are tracking and collecting data effectively. First we need to set our objectives. What are you trying to achieve from your social media activity? Here are some typical examples: - Lead generation - Sales - Retention -Reach - Email signups - Cost reductions
Jeff Domansky's insight:
Sean Clark shows how to measure your social media ROI easily.
Jeff Domansky's curator insight,
June 16, 2014 1:20 AM
Sean Clark shows how it's easy to determine ROI on social media. 
Daniel McKean's curator insight,
August 13, 2014 6:17 PM
Mid to Small Companies Still Struggle With Social Media
First-hand experience as a digital analyst working with companies of all sizes reveal there is still a great deal of poor execution among mid to small companies when it comes to practicing social media. Strategies, tactics and community management all too often are misaligned to the realities of how best to leverage social media.
Several things to keep in mind to realize ROI.
Don’t Act Impulsively There is a big difference between understanding the marketplace & knowing when to leap into the latest platform.
QUESTIONS TO CONSIDER: • Is this new network a fad or does it have potential longevity? • Does the purpose of the network align with our brand and social identity? • Is our current or potential audience on this network? • What content and tools do we need to successfully manage on a daily basis? • Will we see a return on investment / energy if we join this network?
And remember Social media and the strategy applied is no longer just a micro-segment of marketing. Think beyond the basics and take into account your company’s general business objectives, fiscal plans and sales goals, then align your strategy to that agenda. If no metrics currently exist—be proactive!
Establish benchmarks, create metrics, track progress and merchandize appropriately.
QUESTIONS TO CONSIDER: • Do my social goals support greater business goals? • Are the social strategies and tactics outlined attainable? • What is our brand voice and how do we adapt that for social? • What resources, human and technological, do we need to flourish? • What processes are in place to test, learn and adjust as necessary?
Be smart. Track, analyze and report on results to prove ongoing value and return for the company and ROI will start to become evident if social media is practiced well. |
How are you measuring up in your social media? This infographic covers the best practices, tools and tips.