STUDY: 84% Don’t Measure Social Media ROI

868 days ago by Sarah Chong, in Uncategorized

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A recent study by Mzinga and Babson Executive Education revealed that 86% of the respondents from a variety of industries have adopted social media for work purposes.

57% of them use it for marketing purposes while almost 30% use it for customer service.

It is always said that measuring social media ROI is essential for insights and accountability. But in reality, only 16% of respondents measure their social media campaign performance.

In other words, 84% of the professionals are using social media ignorant to its effectiveness.

Measuring social media ROI is tough but…

It’s tough but absolutely vital. Big corporations have the resources to measure ROI using customized tools for different campaigns. Small businesses on the other hand may find this a tough nut to crack. Nonetheless, some form of measurement has to be in place. Web Analytics can help track how each social tool fared in terms of web traffic related performance.

Additionally, qualitative methods like searching through Twitter and Facebook’s real time search engine can tell you how many times your brand was mentioned in a certain period of time.

Check this post to gain some ideas on measuring your social media ROI.

Tags: Business, Marketing, Social Media, Study

About Sarah Chong

Co-founder and editor of Penn Olson. A laid-back marketing student otherwise. Loves social media and twitters about everything! (yes even about the stranger who chants to himself) A huge Harry Potter movie fan who is extremely scared of geckos.

View all posts by Sarah Chong →

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strategic_growth_advisors

I guess there are still some people who don't realize the importance of measuring social media ROI and this will change in the next few months or so. I am confident that the next study would be entitled, “The Diverse World of Social Media ROI Measurement.”
sarah_chong

I really hope so. Different studies always yield different results anyway. I guess its not whether they measure ROI that matters, but exactly HOW they do it that's impt!
http://RobertBurnsII.com RobertBurnsII

“In reality, only 16% of respondents measure their social media campaign performance.”

A startling figure. Quite ghastly, really. I realize that this post is on the older side now, but I believe that it's JUST as relevant today as when you first wrote it. The people running these companies, starting these #SM campaigns are out there masquerading as “experts” and “gurus,” reeling in big bucks from suckers who are ignorant to the deceptive reality: these people have no idea what they're doing.

This is an EXCELLENT post that highlights the issue, and calls out the nonsense seen throughout the social media world today.

In future posts (or here! ^_^), I'd be interested in hearing your thoughts for WHY these statistics look like this. In other words, in your opinion, why do only 16% of people measure social media ROI?

Thanks for posting this one, Sarah!
http://www.inkatechnology.co.uk Webmaster

This is really good information and very helpful. #3 is probably the most crucial for every company – and the hardest to tackle in terms of mindset as well. Many companies look to newer and better marketing strategies (like social media promotions/relationship building) to bring leads, but neglect to fix the issues that deter sales no matter how many leads are generated.