Do you struggle to determine the impact of Social Media?
You’re not alone! Many business professionals feel that they need a social media presence, but really are not sure how to figure out what to budget toward it, or measure results from it.
Recently, I got an email with an interesting infographic, How to Measure Social Media ROI: A 4-Step Plan for Marketers, from MDG Advertising. I though the readers of Branding and Marketing would find it interesting and useful for measuring social media return on investment using a four‑step process:
- Define measurable goals
- Assign a value to each action
- Calculate the cost of your efforts
- Determine the ROI