Social media: Where’s the revenue?
in: Blog.
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Tags: abandoned shopping cart, ecommerce, fan, measuring ROI, networks, return on investmnet, revenue, social marketing
Examples of a real-dollar Return on Investment (ROI) from social media marketing programs are rare. Unfortunately for most ecommerce teams, having hundreds of thousands of fans often doesn’t translate into revenue.
For your CEO and CFO to take social media campaigns seriously, you need to be able to demonstrate a direct measurable impact that either reduces costs (say in reduced customer service heads) or increases sales. At the moment, most social campaigns are doing neither.
Both Dell and Sony have both stated that they have generated real sales from social media program, but these are definitely exceptions.
But the majority of marketers don’t even measure ROI at a simple level let alone try and attribute sales. (…)
