Businesses everywhere are still grappling with how to measure their social media efforts. So, 2Communicate have produced a short publication Measure Your Social Media Efforts to help businesses effectively measure their ROI and effectiveness of their social media efforts.
Virtually every business today acknowledges how important social media is for business whether it be generating brand awareness, offering a customer service tool or keeping in touch with customers and particularly brand influencers. It is also all to familiar that many businesses acknowledge how difficult it is to measure its actual ROI and quantifying its effectiveness. According to a CMO survey in March 2012, social media spending by business is reaching new highs. As a matter of fact, in the next five years, marketers said they expect to spend almost 20% of their total budgets on social media. That’s triple the current level. The business world understands it has to start to understand how to measure social media’s ROI and its effectiveness if it is to really embrace it as part of its Marketing strategy. With over 900 million users on Facebook, 100 million on Twitter, and LinkedIn approaching 120 million and Pinterest, became one of the top ten social media sites in less than a year. So looking at these stats businesses just can not afford to ignore the power of social media.