Social Media Success Metrics

| January 29, 2013 | Comments

Measuring the success and return of investment of Social Media is challenging.   Lux Narayan wrote an article earlier this year for Forbes titled Three Reasons Why There’s No Measuring ROI on Social Media.   In his article he states that the three primary reasons that ROI can not be measured for Social Media include:

  1. Too many metrics: Follows, likes, comments, views, shares abound.  How can all these metrics be consolidated into one simple number?
  2. Too many variations:  ROI is measured based on the cumulative cost of production.  Marketing is a component of production and investment in social media is a component of an overall marketing strategy.  Marketing costs are always variable and it is challenging to isolate a component of return resulting from a single factor of investment.
  3. No monetary value of a ‘social media fan': Can the monetary value of a commercial TV viewer be defined?  No.  Yet, there continues to be investment in television and other forms of mass media advertising.

The true ROI of Social Media can not be measured in a traditional sense.  However, a recent infographic published by InventHelp provides some insight into how you can measure the success of your business activities on Social Media.

 

SocialMediaROI

The Return of Investment of Social Media

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Category: Social Media

About the Author ()

Teale Shapcott is a multidisciplinary User Experience expert passionate about making websites, software and intranets easy to use and engaging for people. Teale’s career has spanned 16 years of design experience moving from graphic / web design to user interface design to designing processes and customer experience for corporate intranets. Teale enjoys weaving together different disciplines and perspectives together to solve complex design problems. When she isn’t busy designing great experiences, Teale can be found, camera in hand, looking for beauty, inspiration and fresh perspectives.