General Motors recently announced that they figured out how to track social media ROI. Given that much of what people claim is social media ROI is REALLY brand awareness, loyalty and positioning, among other soft ROI indicators, is there something that GM knows that we don’t?
Last week I attended the Digiday Social conference in Universal City, California. One of the topics that stood out to me was a presentation on “cause marketing.” There are two different types of cause marketing that I would like to discuss, brand value alignment and sponsorships or microsponsorships.
My boss asked me the other day whether any company out there is achieving ROI from their social media efforts, and how? It sounded like a good next post.
I read an article today that quoted Avinash Kaushik, author of the blog Occam’s Razor, who quipped, “Social media is like teen sex. Everyone wants to do it. No one actually knows how. When finally done, there is surprise it’s not better.” According to MarketingProfs, slightly more than half (55%) of all businesses are trying to do it, and most (79%) aren’t yet trying to evaluate the ROI of their efforts, with 41% not knowing if it even CAN be done. Having read many articles lately on the topic of evaluating the ROI of social media efforts, I want to distill the information down to a list of metrics that can be used.