One of the questions I get asked most often, is: How can I measure the return on investment (ROI) of my social media campaigns?
However, less than a quarter of marketers say they can prove the impact of social media activity with statistics, while another 40% are unable to show its impact at all. These findings show a slight increase over previous years survey data, but they are a long way short of what we would like to see.
If social media activity is part of the organisation’s marketing mix and there are clear goals and key performance indicators in place (so you know what success looks like) then that is an excellent place to start. This, combined with an understanding of the customer demographic and when they spend time on their preferred social media platforms, gives a solid basis from which to measure.
It’s not an easy task, but everyone needs to start somewhere and consider how they can best measure their own ROI, otherwise how do you what what is working, so you can do more of that and less of what’s not?