Public Relations & Social Marketing Insight

Social Media's ROI can be tracked with these 7 metrics. However, measurement is more than just results. It must tie back to your objectives.... For years now you’ve heard everywhere that you can’t measure Social Media ROI (return on investment). I’m not sure if it’s been an excuse to discount Social Media’s value or a fear of adapting to a new marketing model. Perhaps a little bit of both.

Marketing Charts recently outlined on a new report by the Platt Retail Institute, conducted in association with the American Marketing Association comparing marketers’ rankings of various channels’ budget allocations against the channels’ perceived importance and ROI. The study reveals that of the 11 channels identified, Social Media marketing ranks 4th in both current importance and ROI but ranks only 6th in budget allocation.

Scott Monty of Ford Social explained in his blog that “The study reveals there’s a mismatch between marketing budget and effectiveness in key areas. Two are mass media and customer support, which are being overspent on versus their return on investment. Alternatively, email and social are being underspent on while they have a more effective ROI.”...