Join date: Nov 14, 2021
About Trends & Return on Investment

Researchers have been studying social media marketing for quite some time. They are now able to identify trends and develop methods to assess whether these services deliver on their promises of increasing brand awareness and business growth.

Over the last few years, one of the most important trends has been that marketing budgets now include social networking projects. This allows them to be integrated with traditional marketing strategies. Public relations agencies have been blogging more about social media and researchers are looking for ways to measure the effectiveness of social-marketing campaigns.

Radian6 software tracks mentions on social media sites and displays the results on a dashboard. Forrester Research has also developed social media scorecards to help track the impact of this type marketing. Cisco's SocialMiner software was introduced in November. It allows companies to find customers and prospects who mention their brands on social media sites and then respond quickly.

Large businesses want to hear what their customers and potential customers think about them. Companies (or their social media marketing agencies) must evaluate social sharing campaigns. This requires them to consider brand management, digital readiness and financial impact.

When it comes to social media marketing, the return on investment should be evaluated in terms of whether profits have increased or decreased, whether costs are down, whether the status and reputation of the company's website has been improved, whether consumer attitudes have improved, as well as whether the brand is ready to respond to criticisms. Companies involved in social platform marketing need to evaluate the following:

* The socia Media Campaign has reduced costs

* Increased sales conversions

* Response rates for social media promotions

* Brand recognition and impact increase

Social platforms offer many benefits, but they aren't always easy to understand. Management of risk does not mean creating a greater return on investment. It is about reducing the likelihood of a negative return on future investments. These considerations can be weighed together to determine the financial and non-financial aspects of social network marketing. This will allow for more easy approval or rejection of future strategies.

One interesting trend in social networking has been that employees who have access to social media tools are more likely than employees who don't allow them to. This trend extends to off-work hours, as employees can access the internet at their leisure.

Moral of the story: Companies today must not ignore social media tools. Although it is still very early days in the science of evaluating the impact these tools have had on companies, initial results were positive. Social platforms have a return on investment that can be measured in other ways than dollars. The news about ROI is very encouraging.