Social Media ROI: Finding The Gold At The End of the Rainbow

Social Media ROI

The concept of Social Media ROI is very obscure. It’s like finding the pot of gold at the end of the rainbow. Is it possible? Can we catch the four-leaf clover? Why, yes. With the evolvement of Big Data, there are several ways to correlate ROI with social media.

The key to tracking social media ROI depends on 3 things:

  1. Your industry/business model.
  2. The scope of your current social media presence and strategy.
  3. And most importantly, your overall business goals.

Now, there will be people, peers, and executives that may not immediately believe that it’s possible. But it’s a lot harder to measure the effectiveness of traditional marketing/advertising (like billboards, radio or TV advertisements) than social media. Data has allowed us to more accurately measure the success of marketing campaigns. (See the successes of Amazon and Netflix’s House of Cards.) Below is just one of the methods for measuring social media ROI:

Continue reading “Social Media ROI: Finding The Gold At The End of the Rainbow”