Are You Measuring ALL Possible ROI on Your Social Media Channels?

We’ll never stop hearing about the importance of “measuring ROI” when it comes to social media, because it’s a discussion about fundamentals: when you invest in something, you naturally expect a positive return on your investment.

But social media is more than just a sales-driving tool.  Yes, it can (and should) be used for that purpose when applicable.  But insisting that all companies should use social media the same way, for the same goals, misses the point:

Every company has different needs, and social media can be applied to all of them.

The big question is, which needs are you focusing on?

Nichole Kelly touches on six different types of potential returns on your social media investment, from sales and conversions to influence and retention.  As she’d argue, aren’t each of those actions a return on your investment?

Don’t each of those actions build your business and fortify your brand?

Don’t your executives, your shareholders and you pay attention to each of those metrics (and more) when evaluating the composite health and growth of your company?

Of course you do.  So why judge your social media investments solely by one kind of return?

You Wouldn’t Open a Can with a Hammer… Would You?

All of our clients expect their social media efforts to drive sales (or, in the case of non-profits, to encourage donations).  But our clients are also focused on everything from the public’s perception of their brand to their ability to provide meaningful assistance when a customer has a question, a problem or a concern.

Sometimes emergencies arise, and social media helps our clients manage the rising tide.  Other times, amazing things happen and our clients need a way to share their good fortune with the people they value most: their customers.

Don’t underestimate the power of your tools.

A Swiss Army knife does more than just slice and dice; so should your social media strategy.

Need help building your strategy? Contact us; we’re matchmakers for strategy and content.

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2 thoughts on “Are You Measuring ALL Possible ROI on Your Social Media Channels?

  1. Justin –
    Thanks for the shout out! I definitely agree that all of these elements are part of the value proposition for social media. I try to look at it from the point of the sales funnel because many times this is an approach executives are comfortable and familiar with. It’s a lot easier to comprehend that you have to put more people in the top of the funnel if you want more people to fall out the bottom than to try and explain how followers on Twitter contribute to the pipeline and/or deliver ROI.

    Happy posting!

    Nichole
    @Nichole_Kelly on Twitter

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