If you’re going to invest time and resources in social media, you need to figure out a way to measure your return on investment.
It can be frustrating process. The ROI of social media is hard to quantify, and there’s no one-size-fits-all methodology that will please everybody. So how do you measure success?
This visual from ExactTarget proposes five steps:
1. Ensure your social strategy is lead with measurable objectives
2. Measure reach and share
3. Measure conversions and sales
4. Track and measure all leads
5. Measure your cost savings