However, you can only measure your investments if you have determined your objectives in advance. If you don't, you are justifying your efforts and are steering on the wrong metrics. An increase in the number of likes or followers is nice, but ultimately you want people to purchase your product or use your service: from exposure to action . Want to go one step further? Then you measure the profit per website visitor via social media. Or the cost savings per handled issue (in the case of customer service). Or... fill in the blanks.
Are you sure that the use of social media will ultimately pay for itself? Or do you really need hard figures? Do you see that the market is already further along and you have to keep up? Every situation is different. But after this reflective article, here is list to data some advice: if you opt for the just do it approach, you no longer have to worry about the speed at which the competition acts on social media. And measuring? Keep it manageable. Measure your campaigns and various channels, but don't go overboard with measuring the ROI at corporate level. Convince your superiors with the ROI of campaigns at micro level.
Do you have any more great social media ROI quotes? Or do you have an opinion about social media ROI that you would like to share? Put it in the comments!