5 misunderstandings about how marketers avoid the ROI of social media

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This paper lists the marketing people's five misunderstandings about the ROI of social media. ① social media ROI is not independent of cost and profit factors ② the establishment of social media KPIs can be likened to the previous marketing of Kpi③ emerging social-media KPIs, but companies do not have to arbitrarily overturn the previous Kpi④ tools to measure the ROI of a social medium are not one, but a series, and, You've got a big chunk of ⑤. Social media roi may not reflect everything in the society, but can you focus on it?

Today, social media people are discussing how to consider the relevant work. Marketers are under a lot of pressure and need to be clear about what they can do to measure the effectiveness of their strategies and work. Why is it so hard to establish a measurable return on investment that everyone defaults on? In the marketplace of social media marketing, we know we need this stuff, But I don't know how to need the law, really?

If the ROI of social media is inherently simple, it's just that we give it too many usual measures, do you think it's possible? Have we heard too many experts tell us that the ROI of social media cannot be measured before we judge ourselves? Before answering this, We need to put aside the idea that we should personally judge whether social media roi is needed.

Let's take a look at some of the commonly used to convince us that social media roi is not or should not be measured, which leads us to lose the reason to look for the ROI factor of our society.

Myth 1: Social media lacks a standard measurement framework

Surveys show that most social media marketers believe they lack a standard social media ROI mechanism. We have all defaulted, social media as a unique new thing, we measure its standards should be inconsistent with the other marketing channels. Are we going to keep trying to find every bit of ROI, or do we trust an expert to say that social media measures have a secret formula? In this regard, we have struggled for a long time.

Judging from the success of business, all enterprises have a set of standard framework, which is the following three elements: sales, revenue, expenditure. We find ways to correlate the metrics of all marketing channels with the three elements above, but somehow separate social media from them.

Myth 2: We never measure the ROI of XXX

I often see this saying: You don't measure the ROI of sending a text message and buying a phone, so why do you measure the ROI of social media? It's a trick to measure social media, because we don't measure the ROI of other business tools, business platforms, and technology.

We do not measure the ROI of text messages or phones, but in fact, businesses are measuring ROI in other channels, like Tv/radio advertising, public relations, online advertising, and SEO. So why don't we measure the ROI of social media in a similar way?

The fact is that by analogy, we can fully use the ROI we used before to express the value of social media.

Public Relations

Online Advertising

SEO

Cost per impression

Cost per impression

Cost per Inbound Link

Cost per mention

Cost per Click

Cost per Site Visitor

Cost per lead

Cost per lead

Cost per subscriber

Cost per subscriber

The above elements can be used as a measure of social media, in comparison with other marketing channels, and even see where social media transfer value advantage is more obvious.

Myth 3: We need to redefine the new social media ROI

There have been some interesting articles recently discussing the creation of new social media metrics, such as: Impact returns, interactive rewards. I have great admiration for these innovative design social media elements. Also the challenge of designing this element is that when we create them, it takes a lot of time and energy to spread the knowledge to our team, to tell them what these elements are, how they relate to the previous elements, and so on.

Therefore, I suggest that if we want to use elements to measure social media, we should first use those elements that have a certain history in the company.

If you're busy teaching executives about "fans," "attention," and "forwarding," at the same time, you can focus on social media that are helpful to the business and compare them to other channels. Can you imagine explaining to your management team how you think the Google algorithm works and how you can improve the ranking of search engines? Really doing that will only make others feel foggy!

Myth Four: There is no tool for measuring social media

The line between measuring tools for social media and monitoring tools has been blurred. I am a fan of monitoring tools and I often use them to serve my clients. But I have not seen the monitoring tools that provide point-to-point measurements. Why? Because social media is just one of the channels of online marketing, its influence is enough to extend to other channels. To fully measure the impact of social media, there are at least four blocks to consider: social media platforms, corporate websites, mail platforms, and CRM systems.

Instead of constantly looking for a tool for social media, look at what tools you already have. What tools do you use to analyze Web sites, online activity effects, email campaigns, and earnings? Ask yourself how social media fits into the data provided by these tools.

Mistaken 5:roi does not really reflect the value of social media

Again, the ability to measure the ROI of social media is somewhat different from how much social media values are manifested. I agree that the element of financial ROI does not tell everything about finance, and then the element of financial ROI is the center of the management team that lives on and works around. They may not explain the whole story, but they can certainly tell the story in a compelling sense.

Before you can show the impact of social media on earnings, you can't say that you measure the ROI of social media. Linking the ROI of social media to the CRM system is often a missing link in the process of measuring ROI. And companies that use information systems to make statistical gains find that they tend to be more profitable than other companies that are not on the system. In addition, when you study the impact of social media on earnings, costs need to be focused on, and the social medium in the cost-saving this piece compared to other marketing channels have a prominent advantage.

Now, what do you think about the ROI of social media? Do you start to measure ROI in your own way? What other excuses do you see that cause marketers to avoid ROI? Leave a message and let's discuss it!

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Original link: 5 excuses marketers use to AVOID SOCIAL MEDIA ROI (by Nichole Kelly)

This article link: http://www.socialbeta.cn/articles/inforgraphic-yelp-ipo-2012.html

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