It is obvious now that social media has had a dramatic impact on the business world, empowering brands and marketers to build and leverage huge audiences, provide first class, first point customer support and drive traffic, awareness and sales. Everyone wants to grow their fan base, but how can brands measure their return on investment?
In November, Wildfire Inc. conducted a global survey of over 700 marketers about their social media ROI, and the impact it has made on their business.
Provided below is an Infographic with the results from this study – highlighting several key areas of interest regarding monetizing social media in order to measure your business’s return on investment.
Key takeaways from this Infographic:
97 percent of marketers believe that social media benefits their business
75 percent intend to increase their social media marketing spend in 2012
94 percent of marketers ranked Facebook as their top social marketing channel, ahead of Twitter (74 percent), blogs (41 percent) and LinkedIn (32 percent)
Marketers have no standard way to measure social media ROI – 38 percent judge ROI by the number of Facebook Likes received, 24 percent by revenue and 15 percent by the increase in brand awareness