Finally: Proof that you don’t need to measure social media ROI
Finally, after thousands of wasted hours trying to track returns and develop complex models, we have conclusive proof that ROI isn’t the primary measure of success in social media. A SmartBrief report, that somehow slipped under our radar last year, included a slide (below) which shows clearly that only 35%, little more than a third, of businesses that have been using social media for more than 3 years (i.e. the purple columns) actually bother to measure ROI.
For any CEO or finance officer who remains convinced that ROI must be measured in all circumstances, may this serve notice on your misconception: Return on Engagement (ROE) is the primary measurement of success in social media.
The fact that 65% of businesses that have been using social media for 3+ years have created a detailed strategy indicates that, far from being an accidental omission, ROI is being pushed out of the equation by design. If ever proof was needed to make a seemingly self-evident point, this is it. If your boss suffers from ROI-Fixation Disorder, please make use of this table in their treatment. You might just save their business.
This post appeared originally on Our Social Times.