The traditional methods of measuring ROI (return over investments) are out of place when it comes to assessing the impact of social media initiatives. Surely also to avoid the so-called vanity metrics, that does not really help to see that the report has managed to build between the brand and customers. However, we do a step back.
The emergence of platforms such as Facebook, Twitter, Instagram and many more have enabled the brands to create a direct link to their consumers. In addition, the reality of B2B have embraced these communication channels. Increasingly, however, the question that comes in is the value of efforts in activities of social media marketing, since the ROI is difficult to determine.
But then what to measure? The right answer could be DEPENDS, but for the solution to this question, I propose three ideas to think about:
- The real value of social media initiatives is developing and still yet unknown to the great brands. Therefore you must take note of relationship that surely is created between company and customers. However, analysing the impact on sales is a futile method that is misplaced now.
- Lovers of the numbers may start to measure the impact of social metrics such as through the Net Promoter Score.
- Allocation models developed as the Agent Base Model are currently the best way to predict the impact of social in the achievement of business objectives, such as increasing sales or optimizing staff.