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Five Questions To Ask About Social Media ROI

The fact that incorporating social media into sales and marketing can generate return on investment has been and continues to be proven. Just search “social media ROI” or “proof that social media marketing works” and you will have plenty of proof. That’s not the problem. The problem is the question about ROI is still being asked, and it’s because many people are still unclear about how to measure ROI and not about whether they can prove it can be measured.

That confusion is why the following five questions are so important when it comes to understanding where to start, what to focus on, and what meaningful social media ROI looks like. Many organizations start in the wrong place or focus on the wrong metrics. Hopefully the following will prove helpful.

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Five Questions To Ask About Social Media ROI

  1. 1. 5 QUESTIONS TO ASK ABOUT SOCIAL MEDIA ROI
  2. 2. Does Social Media provide ROI?
  3. 3. IN FACT… There are 5 QUESTIONS you need to ask yourself to help you understand: WHERE to start WHAT to focus on WHAT meaningful social media ROI looks like
  4. 4. 1. What are your organization’s objectives for the next 4-6 months?
  5. 5. In too many organisations, social media is not integrated with the current sales and marketing objectives
  6. 6. Which results in little or no ability to measure the impact of social media
  7. 7. 2. How well are you serving your customers?
  8. 8. Find out how customers feel about your products or services
  9. 9. OTHERWISE
  10. 10. You run the risk of drawing attention to their dissatisfaction as you embark on a social media initiative.
  11. 11. 3. Are you confident about how you measure results of your sales and marketing efforts? 1 2
  12. 12. How good is your organization at tracking and measuring its own performance now?
  13. 13. Do different departments cooperate and collaborate to ensure that an action in one area generates an outcome that can be measured in another?
  14. 14. Or in other words, if you post a tweet with a link to a landing page, can you see how that tweet contributed to referral traffic and the conversions on the landing page?
  15. 15. 1 6 4. What is your organization’s readiness to adopt social media and the associated responsibilities and performance measurement processes?
  16. 16. • Are you clear on your objectives? • Have you determined the current state of customer satisfaction? • Have you aligned different business units and departments? • Are the necessary processes and measurement capabilities in place? • Have you identified and rallied a very willing group of people eager to take on this new challenge?
  17. 17. 1 8 5. Are you prepared to be wrong?
  18. 18. You will receive feedback from the market that will inform refinements and dramatic changes to your strategy.
  19. 19. You need to be willing to accept the feedback and adjust your efforts accordingly
  20. 20. For more on this topic see: http://www.steamfeed.com/five-questions-ask-social-media-roi/
  21. 21. volterraconsulting.com
  22. 22. • Photo slide 2+5: photo credit: https://www.flickr.com/photos/rosauraochoa/3256859352 • Photo slide 7: photo credit: https://www.flickr.com/photos/marfis75/9162122990/ • Photo slide 8+9 : photo credit: https://www.flickr.com/photos/rudolfgetel/7223477076/ • Photo slide 10: photo credit: https://www.flickr.com/photos/dominicspics/1135876473/ • Photo slide 11: photo credit: https://www.flickr.com/photos/jeyh/2698743188/ • Photo slide 14: photo credit: https://www.flickr.com/photos/bradhoc/7343762168/ • Photo slide 15: photo credit: https://www.flickr.com/photos/teegardin/5537894072/
  23. 23. • Photo slide 16: photo credit: https://www.flickr.com/photos/17258892@N05/2588347668/ • Photo slide 18: photo credit: https://www.flickr.com/photos/proimos/4199675334/ • Photo slide 20: photo credit: https://www.flickr.com/photos/bu7amd/3504462264/ • Photo slide 21; photo credit: https://www.flickr.com/photos/paulgi/280789933/
  24. 24. volterraconsulting.com

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