Submitted by STintern1 on Thu, Aug 6th at 10:24 pm
What Does Social Media ROI Look Like?
ROI has its roots in business finance. Businesses use ROI to calculate the dollars-and-cents return on a dollars-and-cents investment.
And it’s best calculated with dollar amounts.
Of course, there are no dollar signs dangling from retweets or likes. Twitter, Facebook, and others are no-cost marketing channels to join, potentially a zero-dollar investment (which makes any return exponentially fantastic, right!). So in order to track ROI, the key elements would be:
- Identifying your monetary investment in social media
- Attaching a dollar amount to your social media goals.