At one point or another, every business has made the same comment about social media: “How do I measure the return on my investment?” Allowing employees to take time on social media to talk about the business has real costs, and employers want to be able to quantify those costs with real numbers.
So how does a business measure their return on investment for time spent on social media? According to Social North Chief Idea Officer, it starts with setting goals.
“You have to be really clear what the goals are at the very beginning.”
Setting those goals doesn’t just mean the amount of actual dollars in hand that are expected once your business engages people through a social media platform like Twitter. There is much more that has to be taken into account to truly measure the value of integrating social media into a business marketing plan.