Social Media ROI (return on investment) measurement has been one of the challenges of marketing online and with Social Media. The solution follows!! I’d been hunting high and low too! I’ve found it!
Whether Social Media ROI is required for small business marketing, for Not for Profit or for corporate marketing it appears that many are using ineffective lead generation ROI models & ROI calculators. These do not take into account the uniqueness of Social Media viral marketing. Plus they are using KPI’s that fall short of measuring return on investment. The free Social Media calculators fall short of industry needs.
Many marketers are measuring or talk about various Social Media KPI’s that are not actually ROI measures yet use the word ‘ROI’ in connection. All of us in Social Media and online marketing need to be sure to use the right tools and terms or we’ll come a cropper! e.g sentiment with no ROI outcome, hits with no connection to reach.
Many of the types of analytics tools marketers consider first off are valuable for tweaking and optimising activity but do not forecast or measure ROI. Several of the lead generation ROI tools ignore unique, vital Social Media metrics and KPI’s that contribute to arriving at Social Media ROI. Such tools are too generic for Social Media.
Forum responses indicate how challenged our industry is / has been in trying to measure ROI. It is vital for our clients and businesses that we do not over simplify ROI. It is necessary to use ROI tools at each end of the campaign: at pre campaign scenario and forecasting with KPI definition, as well as at post campaign measurement.
Solution!!! Have you been hunting been hunting high and low for just the right tool as I have? I believe I’ve found a good tool to measure ROI scenarios for pre and post analysis.
I have found a Social Media ROI calculator of the calibre that I want to share with others. Are you in need of the ROI tool so you can forecast and analyse for your next steps? If you want a demo please make an appointment with me. You may contact me by email, phome or skype between the hours of 10am and 4pm NZ time.
Jenny Wilmshurst’s contact details are here
Written by Jenny Wilmshurst, Co Founder Tweet Twins Social Media, Social Media speaker, Social Media trainer & a pioneer NZ Social Media consultant & strategist