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Where does Social Media Play in ROI?
by Erin Duff | September 17, 2012 | ROI, Social Commerce, Social Sharing | 0 comments

When it comes to ROI, social media should never be disregarded. Social media is becoming more vital everyday and it businesses/brands should learn how to use it. With the usage of social media where does ROI come into place?

The aim for retailers should be that to have goals that have results that can be measured. Some questions that retailers should be asking themselves are what is the amount spent in using social media and how do you measure the results using ROI.

To answer the first question: What is the amount spent in using social media? Usually in social media there is no real cost spent in using it production wise. What you really are calculating is the time spent on the actual social media platforms. The more social platforms you sign up for and maintain the more time will be needed.

How do you measure the results using social media using ROI?  First thing you need to do is set your objectives and goals. Some of the purposes you want are rise in traffic, sales, and perception of your brand. These results won’t be impossible to measure but they will be difficult to measure, you should associate the initial rise as a direct result of what you are doing in social media.

Here are some examples of goals that can be easily measured with numbers

  • The number of facebook fans that have “Liked” your page
  • The number of twitter followers that have followed you
  • The number of comments left on a certain post on your blog

 

Having these results help show you are going in the direction of your goals. Remember the whole initial thought about using social media is that if you increase your presence you will gain more loyal customers and they will want to spend more money. Also, a note you won’t be able to see rapid results at first , but once you build your followers, content, and etc it will give eventually results you are looking for.

 

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