Marketers usually discuss measuring the ROI of social media as a nebulous art or, worse, as an impossibility. However, according to Suzanne Fanning, president of the Word of Mouth Marketing Association (WOMMA), "Everything can be measured."
To dispel the immeasurability myth and others surrounding social media ROI and shed clarity on the subject, WOMMA created an infographic based on information from WOMMA's recently released guidebook, Solving the ROI Riddle: Perspectives From Marketers on Measuring Word of Mouth Marketing.
WOMMA found three top myths regarding social media ROI:
- Measuring "likes" and "followers" equals social media ROI.
- You measure for social media ROI the same way you do for traditional media, such as TV.
- Social media should be measured independently of other channels.
To help banish those misconceptions, check out the following infographic:
Take the first step (it's free).
You may also like:
- 10 of the Best Marketing Analytics Tools to Try in 2020
- How Retailers Should Approach AI and Big Data During Holiday Seasons
- How to Become a Data-Driven Company (Without a Data Scientist): Linda Schumacher on Marketing Smarts [Podcast]
- Forget ROAS, It's All About ROMI Now
- A Better Way to Gauge Sales Lift: Closed-Loop Measurement