When it comes to social media, many marketers are still figuring things out as they go. This is especially true in terms of justifying their investment of time and money into social media marketing efforts.
But LinkedIn launched 9 years ago. We’ve had 8 years to get to know Facebook, and 6 to wrap our heads around Twitter. So why are so many of us still struggling to report on the value of social media? For quite a few reasons, it turns out. We’ve compiled data from a handful of different recent studies to break apart this question and zero-in on the key challenges social media marketers are struggling overcome. Let’s dive in.
5) 52% of marketers cite difficulties in accurately measuring ROI as their biggest source of frustration in social marketing. (Source: Adobe) Tweet This Stat
6) 96% measure number of fans and followers, 89% measure traffic, 84% measure mentions, 55% track share of voice, and 51% track sentiment. (Source: Awareness, Inc.) Tweet This Stat
What These Stats Say About the Struggle to Measure Social Media ROI
For one thing, they say that marketers are scrappy. We’ll use any tool within reach to assess our effectiveness and help us move from a gut feeling to a proven method. But the reason fan, follower, and traffic volume are at the top of the list has far more to do with ease of measurement than with priority. Social media channels come equipped with a handful of useful metrics to measure reach and engagement, but what’s missing is something that ties that activity to a marketer’s core business and bottom line. We’ve identified three core reasons why this is the case:
Reason #1: Lack of an Integrated System
7) By 2013, lead management campaigns integrating 4 or more digital channels are expected to outperform single- or dual-channel campaigns by 300%. (Source: Gartner) Tweet This Stat
8) 60% of businesses do not have an integrated social media strategy. (Source: Satmetrix) Source: Web Analytics