The Return on Investment (ROI) of Social Media: Is it measurable?

The ROI of Social Media must be measured from your online presence.

Firstly, in order to measure ROI in Social media, your brand needs to create its own fan base. Next, your company website must act as a portal where customers give feedback and obtain latest information. Thirdly, you must leverage on other social media platform like Facebook using Open ID sign up or Facebook Connect. Offer latest information dissemination through Ready Simple Syndication, or RSS feed. Lastly, with the rise of Mobile devices like I Phone and Blackberry, users will require your web to be mobile-enabled; to have a simplified version.
 
Using Google analytics you are able to track the following:
1. Reach
a. Website visits / views
b. volume of reviews and comments
c. Incoming links

2. Action & Insight
a. Sales inquiries
b. New business
c. Customer satisfaction and loyalty
d. Marketing efficiency

3. Engagement & Influence
a. Sentiment of reviews and comments
b. Brand affinity
c. Commenter authority/influence
d. Time spent
e. Favourites / Friends / Fans
f. Viral forwards
g. Number of downloads

 

Author's Bio: 

Andrew Chow is a certified Life Coach, Serial Entrepreneur, Speaker/Author and Master Match Maker in Singapore. Founded IDEAMART (S) PTE LTD in 1994, Andrew won the Spirit of Enterprise Award in 2008 and the Successful Entrepreneur Award in 2010. Graduated from Thames Valley University, Andrew is also a Certified Trainer, Assessor and Developer under WDA-WSQ courses.

Andrew had more than 130 interviews and features about him or his business since 2005 from Channel News Asia, News 8, 938Live, Business Times, Zao Bao, Berita Harian, Today, The New Paper, My Paper, STOMP, FEMALE, HER WORLD, PEAK, SHAPE, Lifestyle, etc). Andrew was also the business coach on Effective Media Management for Singapore's leading radio station 938live - Positive Business Minute.