But does ROI on Social Media translate into sales?
Posted: Thu Dec 26, 2024 5:46 am
Acting responsibly on social media is common sense. Measuring this performance, based on prior objectives, should also seem like common sense. But how can we do it?
There are many variables that can be studied to define the return on investment in Social Networks. Something similar happens with the objectives, the definition of the objectives is almost as important as the development to achieve them.
ROI on Social Media
A company/brand/product that is starting to make its bc data europe way into social media can obtain a huge amount of input, both qualitative and quantitative. From new followers on Twitter, fans on Facebook, or the number of visits that are directed to the corporate website.
But does ROI on Social Media translate into sales? It depends . The results obtained through these channels may not be measurable in financial terms, although we can obtain clues that lead to an increase in the income related to this activity (and above all, taking into account that the prior investment is much lower than other Marketing or Communication actions).
A positive example would be enabling the online store within Facebook, for example. In this case, it could be translated into financial terms. But it is not always necessary to enable these tools to calculate the return on investment in Social Networks.
Having an excellent Customer Service via Twitter, a complete (and attractive) range of products in Facebook albums or a YouTube channel with videos that help in the use of a product/service... we return to common sense: they will not directly increase the bottom line, but they will indirectly.
Now, we will need to define the most appropriate metrics to measure and interpret all the data obtained, but that will be in the next post.
There are many variables that can be studied to define the return on investment in Social Networks. Something similar happens with the objectives, the definition of the objectives is almost as important as the development to achieve them.
ROI on Social Media
A company/brand/product that is starting to make its bc data europe way into social media can obtain a huge amount of input, both qualitative and quantitative. From new followers on Twitter, fans on Facebook, or the number of visits that are directed to the corporate website.
But does ROI on Social Media translate into sales? It depends . The results obtained through these channels may not be measurable in financial terms, although we can obtain clues that lead to an increase in the income related to this activity (and above all, taking into account that the prior investment is much lower than other Marketing or Communication actions).
A positive example would be enabling the online store within Facebook, for example. In this case, it could be translated into financial terms. But it is not always necessary to enable these tools to calculate the return on investment in Social Networks.
Having an excellent Customer Service via Twitter, a complete (and attractive) range of products in Facebook albums or a YouTube channel with videos that help in the use of a product/service... we return to common sense: they will not directly increase the bottom line, but they will indirectly.
Now, we will need to define the most appropriate metrics to measure and interpret all the data obtained, but that will be in the next post.