ROI stands for Return On Investment. In professional marketing (and business, in general), ROI is everything – at least for some people.
The point of ROI is simple and pragmatic: Will this investment produce results that are desirable enough to justify the investment? Whether the investment is time or money, this is an important question. For businesses pursuing social media as part of marketing, customer/client service, PR, etc., calculating the ROI of a tweet or a “like” has become the bane of so-called social media gurus. The Hootsuite team has responded to the challenge:
With this in mind, HootSuite and Social Media Measurement Coach Nichole Kelly co-authored a 5-part White Paper series dedicated to understanding social media measurement.
These reports share practical advice about tracking and reporting on the impact of your social campaigns and show how these results tie into bottom-line metrics like customer acquisition cost, conversions and revenue.
Below is the first white paper of the series:
You can find all five of the white paper series by visiting Hootsuite’s slidehare account. To test the social analytics functions, sign up for a free 30-day trial of Hootsuite. You’ll be glad you did.