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Measuring Social Media Return on Investment

The growing use of the popular social media sites as business and marketing tools is something that is very much a 21st century phenomenon, and yet research has revealed that many companies do not pay attention to the art of measuring Social Media ROI. The importance of understanding how well your campaigns are performing cannot be overstated, for there is much to be said in this fast moving environment for keeping up with current trends.

The Popular Sites and their Benefits

Those who already use social media in business will be aware of the growth of Twitter as a usable and powerful tool. Indeed, some users have reported as much as ┬á400% growth in the use of Twitter as a marketing tool ÔÇô they use it for announcing new products and deals ÔÇô and yet over 50% of companies who use it admitted when asked that they did not know what the Social Media ROI on sites like this amounted to.

Furthermore, some companies continue to believe that the likes of Twitter, Facebook and LinkedIn offer little or no return on investment, a worrying point when considering the marketing budget!

There is no doubt that there is a real Social Media ROI associated with these sites, and while it is not as straightforward to measure as other marketing methods it is possible to get an idea of how your involvement is helping your company.

A New Outlook

Change is something that industry and commerce needs to be able to cope with, especially in the fast moving world of Social Media and internet usage, and this is why it may be easier to measure Social Media ROI by taking a fresh look at the results.

Think of it as a multi-faceted tool that can operate in many different ways. For instance, by posting comments on Twitter and announcements on Facebook you are looking to engage your potential customer in an online ÔÇÿconversationÔÇÖ in order to get them interested in your product. It is simple to measure how much time is spent on this against how many leads are converted.

It is also possible to measure customer loyalty ÔÇô how many of your Facebook ÔÇÿfriendsÔÇÖ use your services regularly ÔÇô and also the level of satisfaction they have with your company. All of this is viable Social Media ROI, but the bottom line is still about how much you get back for the investment.

Time and Money

The main benefit of the social media sites is that a lot of the work is already done for you. It is simple to set up a Facebook page or Twitter account and it is easy to have someone dedicate some time each day to keeping things updated. This is the crux of Social Media ROI ÔÇô you need to keep your readers interested, and the same applies to corporate blogs.

The ultimate measure of Social Media ROI comes in the form of how much extra business you gain from having a presence on the social media networks, and in analysing this you can gain information that is relevant to your future performance.

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  • Carol lane

    Why do site bogs tease with calculating an ROI while it’s a fact it’s built into every free game reporting, but where are the sales numbers averages baseline? Obvious there is no exact for each game and they fluctuate but looking at 5 year old reports knowing the industry is exploding by leaps and bounds I had the shipment of VG boxes down to a science, why cannot this industry have a “go to” for this type of information idea to be PC Data, Garner or IDG $1000 and up reports.that will be doable and necessary down the road but as a startup we have no budget! I am going to bite the $1200 bullet to get to a mobile 2 dayconference will give me what unwed but geez how about helping us folks with ions of experience in a whole new selling model with no idea of consumer buying patterns. I know how to do it it’s the sales projection that had me stumped. If I get investors and mis projections grrr what a ugly thought from a sales girl who obliterated every sales goal through out my 30 years experience! A Startup and I am befuddled on marketing launch percentages 15 to 30 % is at least something to work with but a average selling game to a AAA game what are the min -max roi’s. 4th quarter sales use to be 75% of annual revenue, with games bring free who waits? I read once u paella were 1-3% again dated and no specifics on the buyer demographic was in a Blizzard game they are not average. I worked for them they have the Midas touch, I would barter their strategy over sales projections. Lol! Some kind of number to bet the business on to investors what’s a comfortable figure? I have 30 years sales licensing marketing experience worked for one of the nations largest accounts and top 5 game publishers.I know the launch strategy done it hundreds of times help guide me to free strategy it’s a totally different animal! Any help until we start raising capital where to get some basics on sales projections? Again new genre not like another bejeweled with a candy theme!!huh of your old enough to get that one! I was approached by pop candy to help them grow! Sadly there wasn’t anything for my donation! Lmao or klash of copycats!!! Rolling on the floor laughing hopefully your smiling!! Lol ;) video game humor got a ton of jokes! Hey now there’s an idea. Like you don’t know jack. If you never played here is their security so no minors would play! Have you seen it prior to the Google search explosion the question was name the 4 Beatles first names ok. So if you were around in their hey day or even cared you had to be at least 18! Again that game was nothing more then a comedy show with language that would shock my grandma! Thanks for letting me vent. Willing to help? I will remember those who helped and will show my appreciation in a big way!?! Find me on linked in BrandAid Consultants. 800 260-5541 thanks ;)

  • Carol lane

    Not u patella pls remove word guessing! Lol Up Sells