Is social media really worth all the effort? That’s the question that many CEOs ask their marketing teams. It’s hard for the C-level executives to understand where the true value of social lies since the results take time and are not always in dollar amounts. Based upon research from his company Meteor Solutions, Ben Straley says they have found that social media actually plays a large role in the success of online marketing campaigns.
When you set goals for your social media campaign, you need to ask yourself what you want to accomplish and then measure your efforts. The type of business you operate actually determines what you should measure.
For instance, if you’re a brand advertiser, you should measure the online buzz that’s created about your brand and look at conversations and mentions. If you’re an online retailer, you should measure social media like a direct response campaign and look at the number of visitors to your site and the number of sales generated.
Ultimately, the value of social media is not determined by how much money you make. Instead, it is determined by how your business receives value from it.