Social Media Metrics and Measurement
Social Media ROI
Dec 06 2011
Social media is about strengthening relationships with your customers and partners, generating word of mouth marketing, creating brand awareness and finding new leads. Usually most companies understand the value of social media and want to give it a try. However, after making an investment in social media, they want to understand in more detail how social media is helping their business and if it brings enough value to justify the expenses. Like any other action in business, it all comes down to return on investment. So, how do you measure the success of social media? What measuring metrics should be considered? The answers to these questions are not that simple.
Mariya Newman
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Hi Krista, thanks for sharing this data. It surprises me that only 10.9% believe LinkedIn provides significant ROI, yet 80.2% are using social media for recruiting. I would have thought that LinkedIn would be recruiters’ #1 social network for recruiting… or maybe I am not connecting the dots. Your thoughts?
Jason
Great point! It is also interesting to note that 61% plan to increase their use of LinkedIn. I think that many people are not yet seeing significant ROI from social media sites (like LinkedIn) because they are only just at the beginning of discovering how to use it effectively. Many of them know that social media is important and will continue to be more important, but don’t know how to derive ROI or quantify the ROI that they are getting.
You raise a great point though. Most of the tools have lower percentages of those seeing ROI than I would have thought….. Thanks for sharing your thoughts here…
– Krista