How to detect the ROI of Social Media
Remember when we found some statistics by the Fournaise Marketing Group that mentioned how weak business credibility of marketers in the eyes of their CEO’s is? According to the study 73% of marketers lack business credibility. In the end, it all comes down to what…? Correct: Sales!
Still, 77% of CEO’s think, marketers are not much focussed on sales… according to then study.
The only way marketers can prove their business efficiency is by making their bosses clear how marketing drives sales. However, the question is how Social Media can be beneficial in this process as it is redefining the ROI model that we know from the past. Do marketers need to change their point of reference? Does it matter to look at Social Media numbers, or is it better to focus on business figures? In my eyes the later helps marketers detect the secret sauce.
CEO’s might love marketers for a good promotion. Yes, awareness is never bad. However, they value a sales story creates is much higher. It tells everyone how their lead generation campaign led them to the last sales success which made their pockets full of money. And just imagine how marketers could use that for their social efforts…!
The following infographic by InventHelp gives some insights in how to value social reports for business results. How can marketers determine the ROI of their social media activities? What motivates consumers to like a brand on Facebook? How do successful campaigns on the social web generate the right customers that buy?