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Spending on social media marketing continues to grow, but what are the metrics that could be measured and should they be bench-marked against return on investment? Get an idea of how well your strategy is working in terms of customer engagement.Learn to measure ROI on all your social media activities.
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Measuring Social Media ROI
What’s ROI?
ROI
Sales funnelThe AIDA Model
Metrics for the sales funnel
Most of us are measuring the wrong stuff
Measure “hard” objectives
• Increase awareness among target audience by 15%
• Increase revenue by $5M
• Drive 100 downloads of brochure
• Encourage 10,000 adults to quit smoking
Examples
Measuring Cost effectiveness of tactics
Use a result-focused measurement framework
KPIs vs diagnostic metrics
How we measure
Incorporate measurement at every stage
Always-on cross media tracking
Some Insights
• “By starting earlier and using social media to spread the word about the new product, we’re really reducing the amount of traditional advertising we have to spend.” - Jim Farley, Ford CMO
• Four out of five consumers said they would be more inclined to buy a brand more often in the future after being exposed to a brand’s social media presence – AIB Research
• After seeing a friend’s social signal (like, re-tweet, comment), 7% of his/her acquaintances will consider the brand in conversation, and 42% of his/her close friends will want to buy - Rotterdam School of Management white paper
Thank You
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