My colleague Andrew Jones and I spoke with 16 brands, 38 vendors, 3 agencies and 4 ecosystem contributors, and surveyed 71 social media and analytics practitioners to answer this question and provide pragmatic recommendations.
The result is our “Social Media ROI Cookbook,” which aims to identify and describe the most effective “recipes” for measuring the revenue impact of social media that we have seen adopted to date. Here’s what we learned:
Only 30% of brands we surveyed consider themselves to be “effective” or “extremely effective” at connecting social media to revenue. The top three challenges: Inability to tie social media to business outcomes (56%); Lack of analytics expertise and/or resources (39%); Poor tools (38%).
To be fair, we are in a period…
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