While marketers agree on the importance of putting a price tag on social media interactions, they also say the area is wide open to interpretation–and very misunderstood. Heads of marketing from Sears, Kimberly-Clark, Comcast and other brands discuss how they measure social ROI. |
- Most marketers repeatedly refer to pinning down the real value of Facebook likes, Twitter favorites, and Pinterest pins as the “Holy Grail.”
- “You don’t understand the true value of a like unless you understand the value of paid media around it.”
- A click-versus-revenue figure would be a simple answer to the ROI question, but is not necessarily the right answer for top management.
Backtracking Vs. Forecasting
Many marketers analyze effectiveness by looking at before-and-after results of a campaign and then use that to model future efforts. For example, BAE Systems tracks social to the bottom line by monitoring business wins and evaluating whether social media helped in each case. At the conference, Brian Roehrkrasse, VP external affairs, financial communications, and community investment, said the defense contractor has seen results from using social media for recruitment.