No ROI for Social Media [Infographic]
2Here’s a great – but depressing -ColumnFive infographic from social marketing platform Wildfire on social media ROI. The data is taken from a November 2011 global survey of marketers.
Points of note:
- Number of marketers using ROI to measure social media ((gain – cost)/cost) = 0
- Proportion using alternative measure of # social interactions generated (likes, comments etc) = 38%
- Proportion using alternative measure of revenue generated = 24%
- Proportion using alternative measure of awareness generated = 15%
- The top benefits of social media according to marketers are increased brand awareness (88%), brand ‘engagement’ (dialogue)(85%), increased sales (and partnerships) (58%), and reduce costs (41%)
- Nearly 70% of marketers believe fans are more valuable than non-fans (they bring in new customers, they convert better, they buy more often)
Odd that not one marketer in 700 makes the business case (ROI) for social media…
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It’s strange that ROI is not measured at all and that so many data points in the infographic are beliefs and not based on hard data.
This reminds me about an interesting piece by Olivier Blanchard http://thebrandbuilder.wordpress.com/2012/01/12/how-to-publish-a-proper-list-of-social-business-roi-examples/
Fantastic article, especially for us visual learners. Thank you. Marketing can be so fun, but very hard to make big corps attractive to follow. American Express does a good job of being engaged on Twitter, but Visa, not so much.