Despite the rise in available data and an overwhelming number of third-party tools, measuring the bottom-line impact of social media efforts continues to be a major challenge for communications professionals.
Are most marketers struggling to build a concise measurement infrastructure that goes beyond what the native platforms will tell us? Or is it that we have an inflated sense of the outcomes social media can impact beyond lifting brand awareness and engaging with prospective customers?
The issue is multi-faceted and occurs due to breakdowns at both ends of your social media strategy.
Identify your goals.
Effectively measuring social ROI starts with a crystal-clear understanding of why you’re using it. Establishing goals and analyzing historical performance allows marketers to benchmark against past performance and provide a clearer measurement infrastructure. Whether your goals are improving brand awareness in key markets, generating downloads of an ebook or driving bottom-line sales, it’s likely that the platforms’ native analytics platforms won’t be enough.