In an interesting survey from Business Insider, there has been a growing decline in the demand of ROI metrics in the social media strategies, as accepted by the top social marketers.
Even though the demand for ROI metrics is decreasing, the social media budgets are inflating and according to the same survey it is expected that social media budgets will increase to 16% of the total budget from 9%, which indicates growing trust amongst top companies, further strengthening the fact that social media is there to stay and it actually contributes to the revenue part, but gradually.
In a startling revelation, the survey found that from 2010 to 2013, the share of marketers going for ROI based metric declined from 17% to 9%.
It doesn’t mean that ROI metrics will be completely thrown away, exceptions will always be there, like for example, E-Com brands, for whom conversions matter a lot and they are always keen to know that what percentage of their customers come from their social profiles.
Three metrics’ will be on top of the mind of every marketer in the coming years;
Engagement – Sentiment – Reach
Given this, can we really say that ROI will surely decline in the next one year?
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- Blog / Social CRM