See on Scoop.it – Digital and Social
Just because the number of marketers that are measuring revenue and conversion rates is dropping, does that mean that your brand should drop these all together? No, because with the proper data infrastructure, measuring ROI is certainly possible and can allow you to optimize on various levels. First, it will allow you to optimize messages that are most likely to drive desired actions, maximizing the benefits that you’re reaping from social channels. Second, measuring return will allow you to decrease the time you spend on channels that don’t provide a high return – and we all know that time is money. Read more at http://www.business2community.com/social-data/social-roi-dead-0642476#X8rjLB3lWoeo8yqd.99
The issue that most brands face is that they have a lack of resource to properly measure social media ROI. Data scientists and analysts are needed desperately but so is shareholder happiness. Focus is always going to be on growth, profit and expense control. This means that much needed resource to adequately measure ROI falls by the wayside.
See on po.st