MKTG 3347 Week 4- Social Media & ROI

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Measuring social media ROI is key to budget for your social marketing strategy. Your social media strategy depends on your company objectives like brand awareness, customer satisfaction, revenue etc... To simplify, social media ROI is the sum of all social media actions that create value. It is in the company's best interest to know what will be the outcome of all the time, money and resources invested.

Often times, companies with limited budgets will cut back on social media marketing because they don't fully understand the potential return on investment. Understanding ROI not only helps the company understand what tactics are/are not working for them but also how they can shift their tactics to be more effective.

To measure social media ROI, it is important to have clear objectives, set SMART goals, track the right performance metrics and know how much you're spending on social media. Following these steps will help you break down exactly how social media is benefiting your company and if the investment is even worthwhile.


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