Planning a social media strategy is tough work but getting it implemented could be even tougher.
A study which involves over 200+ marketing professional reveals that the number one obstacle toward implementing a social media strategy is having insufficient data or analytics to measure ROI (35%).
Measuring ROI, as we have previously mentioned, is an important element for backing up a social media marketing plan…
When budget is of concern, the management needs to understand how a plan will turn out in terms of facts and figures. Projections and ROI are a must and a failure to do so would dampened your chance of approval. This could be a plausible explanation why a failure to gain management’s buy in is second on the list (23%).
The third biggest and also the most legitimate obstacle that marketers face is when the target audience isn’t on social platforms (21%). The others are stated in the chart below.
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ROI Most Crucial
Whether social media can help businesses improve revenue growth depends highly on how the strategy is formulated, executed and measured. I’m sure most new age marketers have a good understanding of their own business, product, consumers and also how different social platform works.
The main problem, as the study reveals, still lies on how one could effectively measure media performance and prove that these media impacts have helped in revenue growth over time. Olivier Blanchard’s slides on social media would provide you with additional insights.
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