General, Social Media

Social Media ROI. How to Measure It?


Social Media ROI. Every CMO’s nightmare. Lots of things happening – but where’s the ROI on this? – Is the million dollar question. Whether you’re a B2B, B2C or C2C portal – Social and Mobile is the future. On the Social front, there are 2 ways in which the efforts of a company could be classified and further studied in detail:

  1. Qualitative Efforts, Strategies & ROI
  2. Quantitative Efforts, Strategies & ROI

Ignore meaningless metrics like ‘number of followers’ etc.

A successful social media campaign includes:

  • Building online brand presence
  • Strengthening online brand presence with already existing customers/clients (via Royalty programs)
  • Repositioning the brand (e.g. Myntra.com starting out as a Custom-Gift-E-Retailer to Apparel & Fashion e-Retailer now)
  • Community Management

Thus, a campaign objective should be defined when conceptualizing a campaign; and corresponding success metric(s) should be defined, which helps us in achieving a bigger Goal.

Measuring Qualitative Efforts:

pic1

Measuring Quantitative Efforts:

pic2

Different Social CRM platforms like Sprinklr, Radian6, Spreadfast and others could be used to dig deep into Social Media campaign parameters and figure out Branding and Brand Identity Key Performance Indicators (KPI)s or metrics. See a few screenshots to get an idea.

report1 report2 report3 report4 report5 report6 report7 report8

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