The Social Media MBA Guide to ROI: How to Measure and Improve Your Return on Investment

2Measure ROI by Platform

Learning Objective

In this chapter I will explain how you can use some of the build-in features in popular social media channels to track ROI. This is adequate for basic measuring to get you started.

Social media isn't limited to the websites such as those we have decided to feature here, social media in the broadest sense, is an opportunity to do business in a new way. It doesn't need to be customer facing, it doesn't need to be about getting people to buy something. However, sometimes starting out with getting your head around calculating the ROI for these channels can be an easy place to start. As you get the hang of it, you scale it to apply to all other social media-related processes in your business.

Facebook

Facebook states that they are the gateway to your customers. With over one billion people “liking” and leaving comments, on average, 3.2 billion times every day, they believe that their coverage will give your brand access to conversations taking place between friends, which will ultimately result in brand recommendation and become the start of the sales funnel.

What Is the Purpose of Facebook?

Facebook's origins are well documented, not least through the Hollywood film, The Social Network. Facebook came to life on the Harvard University campus in the US in 2004, when student, Mark Zuckerberg, launched the site to allow Harvard students to be as well-connected online as they were in real life. Facebook quickly filtered out to other Ivy League ...