Sunday, September 29, 2013

ROI on Social Media?

Measuring ROI for social media marketing is extremely difficult. Do you count Twitter followers or Facebook friends? Do you analyze retweets and likes? Do any of these statistics mean actual sales?

As we discussed in class, a key to developing metrics around social media is setting clear goals. Companies with specific campaign goals are better able to measure the return on their social media spend.

Psoshul created an infographic with examples of 10 companies that set clear campaign goals and successfully measured the effectiveness of their social media marketing.

A few examples:

Coffee Groundz
Goal: Use Twitter to increase direct ordering between company and customers.
ROI: 20%-30% increase in company sales and market share via Twitter.

Jimmy Choo
Goal: Use Twitter to geo-locate and feature upscale stores where their sneakers are available, more precisely targeting potential customers.
ROI: 40% increase in positive tweets about the brand and 33% increase in sneaker sales.

After Steaz - Organic Tea
Goal: Increase sales through coupons downloaded and shared on Facebook and Twitter.
ROI: 250,000 coupons downloaded and 2,830 tweets recorded an hour.

Source: http://www.business2community.com/infographics/10-examples-social-media-roi-infographic-0630889

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