3 Myths of Social Media ROI | Womma's Solving The ROI Riddle Guide
- Myth #1: Measuring "likes" and "followers" = social media ROI: 1) Mentality. Marketers count consumer "activities" based on convenience creating a "quantitative fiction"; 2) Reality. Focus on business goals, shift from
"activity" metrics to "value" metrics: Increase revenue; Deflect cost; Move brand perceptions.
- Myth #2: The way you determine ROI for social media is the same as traditional media TV and digital: 1) Mentality. Marketers are used to thinking only about direct effects from media; 2) Reality. People share and
amplify the impact of media and so the social ROI calculation must account for the increased network amplification effects.
- Myth #3: Social media should be measured independently of other channels: 1) Mentality. Difficulty in measuring both generic and targeted initiatives holistically; 2) Reality. Measurement must be holistic or else you will miss
the effects of social combined with traditional channels.
- Three takeaways of social media ROI: 1) Focus on business goals and metrics that drive bottom-line value for your company; 2) ROI is ROI is ROI. Apple same standards for social media as your other media and
marketing initiatives; 3) Measure social media's value in context of your full marketing and media mix.
"Social Media Impact on Sales" Infographic content by ChatThreads + Social@Ogilvy.
Womma - Word of Mouth Marketing Association, www.womma.org/research | Content provided by ChatThreads.com | Designed by WOMMA.