Every company can benefit from social media, but not every company gets a good return on investment (ROI) in social media. To determine if it’s getting a good ROI, every company should utilize a five step process. For starters, accurately measure social media ROI. Know and work toward a conversion goal. Do the math by setting a monetary value to conversions, and then calculating the value of social media. Next determine how much is spent on social media. Now do the math and it will become clear from the ROI whether a company’s social media strategy is working or not.
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5 Steps for Successfully Measuring Social Media ROI