From the Pagemodo infographic, Unmeasurable Success: In the last few years, both small and large businesses have increasingly turned their marketing efforts toward social media, convinced that joining the social ranks will deliver a measurable monetary Return on Investment (ROI). In truth, the ROI of social media – unlike other marketing techniques – is measured by the impact it creates, instead of a monetary return. This year, marketers promise to deliver both. We find out if the era of a truly measurable ROI in social media is here.
I believe that ROI in social media can already be measured, but is accomplished in several tiers. There can be immediate conversions, indirect conversions from fans and followers of brands, in addition to conversions from the long-term influence and authority generated over time. It’s not easy to capture every dollar gained with a social media strategy, but you can track enough to show a positive return on the investment.