Social media marketing is included in the marketing mix of almost all brands over the last few years. But the mystery lies in the evaluation of the social media RoI. What are the parameters to measure social media RoI?
Some of the top reasons for being unable to tie social media campaigns to business outcome include lacking analytics expertise and resources, employing inadequate measurement tools and platforms, using inconsistent analytical approaches, relying on poor or unreliable data. Most brands struggle to determine the parameters against which social media RoI needs to be measured.
According to a MDG Report, , 44% of businesses are not able to measure the impact of social media on their business, with only 20% saying they were able to quantify the success of the social media efforts. Furthermore, 73% percent of businesses say they regularly track their social media efforts with limited analyzed metrics but marketers do not look at overall sales and focus more on likes, comments and engagement figures.
Also Read: Infographic: Google Adwords VS. Facebook Ads
The infographic below looks at the effectiveness of social media marketing and subsequent parameters that help in measuring social media RoI.
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