Virtually every business today has at least one social media account on which they are trying to interact with their customers or else attract new customers. In addition, many are using social media as a key marketing tool to build their brand and (hopefully) generate sales. The problem is, at least according to a recent study by Simply Measured, that most of the companies are unable to measure the return on investment for this type of marketing.
The study found that 60% of companies struggle with understanding the ROI for their marketing dollars, which may lead them to reduce spending or follow failing strategies.
The study looked into a variety of different topics regarding what marketers and businesses are looking for and doing when it comes to social media. The following chart shows the goals different companies have for their social programs.
As you can see, brand awareness is by far the biggest goal followed by driving traffic to websites. In order to achieve these goals, businesses need to be able to get better information on the effects of their marketing investments.
Having the ability to get specific information about a social media marketing campaign is absolutely essential to the long term success of any brand’s marketing. While there are many strategies out there and a variety of services that promise to be able to help, the study shows that the majority of companies are still struggling to find the right approach.
Learning more about this topic can help marketers and advertisers understand where they may be failing and how they can improve. To see the full study you can click HERE.
