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: