As social media becomes a greater part of website marketing, it is becoming more important for businesses to get return on investment, eMarketer has found.
Return on investment ‘must have’ for social media strategists
Marketers now need to seriously evaluate any programs they implement and focus on internal education policies, according to a new study.
eMarketer explained that social strategists, as part of a website marketing team, are increasingly looking to develop better ways of determining return on investment (ROI) from social media outreach projects during the next 12 months.
The research company argued that as more companies increase their social media budgets during the year, ROI policies are now central to performance, particularly as every area of social media strategy sees increased participation in 2011 than 2010.
eMarketer noted how the Altimeter Group’s recent survey of 140 social media strategists at multinational companies found that 82 per cent of respondents said they would be putting most cash into brand monitoring, while 77 per cent said staff budgets and 78 per cent highlighted the importance of training budgets.
This, the company argued, highlights how consumers continue to flock to social media and therefore require increased website marketing investment, so ROI demonstration is more important than ever.
Creating ROI tops the list of internal social strategy objectives for 2011 on the same index as 48.3 per cent of respondents cited the target.
Furthermore, internal education about the importance of platforms such as Facebook and Twitter was also noted as a top priority, as was the establishment of an organisational model for social media.
eMarketer concluded: “Looking externally, social strategists also have several popular objectives for 2011, including website integration, developing ongoing dialogue with customers, and listening and learning about customers.
“As internal strategies for social media outreach become more developed, companies will have the resources and plans in place, and these external goals will also fall into place.”
Earlier this month, customer experience analytics firm ForeSee Results stressed how mobile phones are being used to access websites more than ever before. For this reason, social media strategies may need to incorporate this platform if they are to be entirely successful.
Living Streams “Improving clients’ profitability through better use of the internet”.