How do marketers determine social media ROI?
This a question asked by many CEO’s and business owners that challenges marketers to deliver value from social media and make a return on their investment.
So it’s no surprise that 77% of CEO’s think that marketers don’t really talk about what matters; sales.
This Infographic by InventHelp has some of the latest polls and interesting mini-case studies that show support for social media ROI.
***** What can make determining Social ROI hard is the many indirect benefits. What is better SEO worth? How much does an increase in traffic help your rankings? If you start a virtual positive cycle, more and more, faster and faster and better and better, how does that help your bottom line in exact numbers? If Google sees you as an authority what is that worth in new traffic and competitive advantage?
ROI is the hobgoblin of minds who think in a single dimension and so can never really understand the iceberg nature of Internet marketing.I'm not saying it is impossible to create some ROI schedule. I am saying whatever schedule you create is off by half.
Here's a test I suggest for the ROI curious. Turn all social off for a month. Then you will have all the supporting data you need. Good luck catching back up, but at least the ROI questions would be put to bed forever :).