[Infographic] The ROI of Social Media
Is social media marketing effective? That’s the question being asked as more and more businesses are investing in increasing amounts of social media marketing. With no standard means of measurement, there’s a wide variety of goals and metrics used to define the ROI of social strategies. Fortunately, this enlightening infographic, developed by MDG Advertising, helps clear up the confusion by outlining the objectives, benefits and factors that affect the success of social media marketing.
4 Factors For Measuring Social Media
- Studying sales increases and the decline of costs.
- Has your brand recognition greatly improved among audiences?
- Can you easily tend to issues that relate to your brand?
- Have your digital assets improved along with your brand?
Business objectives are not the same for every business, which is why it’s important to define objectives prior to social media implementation. Consider the following:
- Brand recognition
- Engagement with your current customers
- Sales (short-term basis)
- Improving your company’s “searchability”
- The dispersal of company information and news
Measuring Social Media Marketing Activities
The following percentage of CMOs use these metrics to measure social marketing merits:
- Conversion (66%)
- The number of page views (43%)
- Revenue (50%)
- The number of members (63%)
- Site traffic (68%)
Social Media Recruitment
Social media is necessary for companies to engage with customers, as well as enlist new talent. Trends And Facts To Note:
- Over a long-term basis, social media marketing significantly cuts marketing costs.
- The infographic reports how 45% of social media marketers were able to build new partnerships via social media.
- Social media has assisted 72% of marketers in “closing business.”
SOURCE: MDG Advertising