There are hundreds of social media platforms and it has become difficult for marketing people to gauge the effectiveness of their campaign. In this world of surplus media, monitoring success has become imperative. The question often asked by media experts is where to invest resources and which social platform gives maximum ROI. To address this problem, many social media monitoring tools are available. To enable businesses to evaluate their social media performance, there are certain benchmarks which have to be monitored on a constant and daily basis. Social media engagements will only be successful if you understand the ebb and flow of the marketing campaign. Here is how you must go about monitoring social media in order to derive maximum benefit and ROI.
Social Media Landscape
First and foremost requirement for a social media campaign to be successful is to know the entire landscape. For example, Twitter is an excellent choice for running short term, intense and focused marketing salvos. On the other hand, LinkedIn may be a great platform to address professionals. Many campaigners choose Facebook as their preferred media platform without application of mind. Each social media platform is special and addresses specific audience. A marketing campaign may however involve several social media sites. Once you have chosen an ideal mix of platforms, it’s time to carefully monitor the outcome and estimate ROI.
Investing In Social Media Monitoring Tools To Know Your ROI
The process of social media engagement truly begins at this stage when you have chosen specific platforms for carrying your message. There are many social media monitoring tools which can be either downloaded free or by paying a small amount. There are tools which specialize in a specific social media, like Twitter or Facebook. On the other hand some monitoring tools can be used across the spectrum. Your must choose tools which can provide maximum information on the campaign. Extrapolation of results is another fast growing sector which provides intelligence by analyzing available data obtained from earlier social media campaigns.
Measuring Effectiveness and ROI Of Social Media Campaign
Measurement the effectiveness of a social media campaign is a complex process. ROI in such engagements cannot be measured as return on investment in purely monetary terms. In fact, success and failure of a social media campaign can be assessed only in relative terms. This area is therefore quite fuzzy. Cold facts and figures by themselves reveal hardly any information. It’s the interpretation of results which is important under such circumstances. Therefore any attempt to find a numerical solution to social media performance is fraught with danger. A practical approach to measuring effectiveness and ROI of a social media campaign is therefore necessary.
Social media monitoring is still at an infancy stage. There is no perfect formula or treatment available to address the problem of evaluating ROI of a media engagement. Interpretation of data gleaned from various tools can be misleading if not carried out carefully and with scientific methodology.