Social Media ROI and Measurement: Questions You Should Ask

The need to measure social media ROI

ROI stands for Return on Investment. Period. If we talk about Social Media ROI in this post, we mean the return on investment of the business (predominantly marketing) investments in social channels, networks, strategies and tactics made to achieve predefined goals. The micro-level, the macro-level, the integrated level, the campaign level, the program level, the whatnot level: anything goes. Let’s talk about social media ROI from the Marketing ROI perspective. Because, in fact Marketing ROI or ROMI (Return on Marketing Investment), is not something new. It might be new to you soon because it's increasingly used as execs want to know what is the output of your input. Return. And Investment, right? … [Read more...]

Social Media Marketing Metrics Explained

marketing and business graphics and metrics

In his book ‘Social Media Metrics’, Jim Sterne provides an excellent overview of a topic that is still debated every single day: how to measure the impact of social media marketing on your business. An introduction to social media marketing metrics. Social media marketing is an umbrella term that covers many underlying forms of marketing. Measuring can be easy if you limit it to one or a few channels. However, vanity metrics are not enough and, although everyone talks Big Data, measuring should really be about data that matter. And by definition that means a single customer view. Measuring is a cross-channel, integrated, touchpoint-oriented, behavior-driven and customer-centric process that looks at the customer (buying journey) and overall value of marketing programs, starting from the individual campaigns and programs but striving towards an overall picture of marketing as a whole. And of course it's not only about measuring or dashboards (the picture): it's about people, … [Read more...]