Seven great tips from eMarketer’s free report on achieving ROI in Social Media marketing.
- Establish clear marketing goals for your product or brand, and then identify social measurements that directly support those objectives.
- Organize your measurements and metrics in a logical framework.
- Take a long-term outlook with social media interactions and measurements. It’s a commitment, not a campaign.
- If hard ROI metrics are difficult to track directly, consider a range of softer metrics that can be linked back to desired business outcomes.
- Determine a dollar value for customers who choose to opt in and engage with your brand via social networks. (see below)
- In your ROI calculations, don’t overlook the value of cost savings that can result from ongoing social listening and tracking.
- Build the technological capabilities to measure your customers’ complete digital footprint—in real time.
via eMarketer (free registration and download required).
re: #5 – great slide from Charlene Li on figuring out that lifetime value:
Interestingly enough, I’ll be presenting on social media metrics at the Acuity Forums “Delivering Social Media” conference on November 17/18. Register here.