Determining The ROI of Social Media Marketing
In a recent Forrester study
, analyst Augie Ray suggests that marketers trying to determine the ROI of their social media marketing need to look beyond dollars and cents and consider using a Social Media Marketing Balanced Scorecard instead. This way, marketers will be able to evaluate a diverse set of short- and long-term benefits that are both financial and not. From Ray's experience, an affective Scorecard considers metrics from these four different perspectives:
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Way to corner the market, Forrester Research! Not only will they tell us what to do, they’ll also tell us how to measure the results. Very full service package they’ve got.
The various perspective correlates to the generative advantage of social media that is needed to be deal in a balance proportion so as to create a very valuable marketing worth. Understanding the connection of these components brings a diverse benefits of social media marketing at its best.