The 5 Big Lies of Social Media ROI
The quest for return on investment is an old problem. John Wanamaker once famously complained, "Half the money I spend on advertising is wasted; the trouble is, I don't know which half."
Social media marketing was supposed to fix the ROI problem by making interactions with brands easy to track. In practice, it has just given companies more data than they know what to do with. Don't blame social media for what are essentially business problems. The confusion over social media ROI happens when we design faulty campaigns, ask the wrong questions and obsess over meaningless data points.
Social media can deliver business value, but you can't create a social presence and then try to figure out its value after the fact. You have to build ROI into the core of everything you do online. The trouble is, there's a lot of misinformation about ROI out there. Here are five big misconceptions you need to do away with if you're going to get to the heart of the matter.
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