July 13th, 2019
Challenges In Measuring ROI of Social Media
ROI stands for Return on Investment. It shows how your social media strategy has paid off, what are the results? Is the time you spend on marketing has been worth it or just a waste of time.
But difficulty in measuring ROI is very common even among brands with reputation. 44% of the managers have said that they were unable to measure the social media impact on their business, 20% were successful to quantify the results and the rest 36% were able to measure it qualitatively but failed to convert it into specific numbers.
But this is not only the problem with brands the marketing agencies face the same problem. According to the research, only 17% claims that they have quantified the results accurately.
Even many people has failed to quantify the results but were able to identify what factor show that the marketing strategy has worked. These factors include
· the increased traffic on social media page
· increasing and developing fans of your brand
· increasing the sales of the product
· increasing exposure of social media
It is not easy to measure the ROI of social media but can be achieved if skilled people are hired. It can be a slow process but not impossible to measure. Knowing the results of your investment is very important in the future.
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