Webinar: From Buzz to Bucks: A New Framework for Measuring Social Media ROI

Posted by Optify Team on June 17th, 2010

Social Media has become more than just the latest fad for marketers; recent studies show that more and more businesses adopt social media as a marketing strategy to build awareness, generate traffic and leads, and increase general visibility. Those same studies also show most marketers are facing the very real challenge of tracking and measuring social media. Marketers are also struggling with being able to demonstrate an ROI for all of their social media activities.

In this webinar, “From Buzz to Bucks: A New Framework for Measuring Social Media ROI,” we cover the challenges marketers are facing, as well as introduce a framework and set of tools for measuring social media ROI.
The video is available to watch below, and the presentation is available for download.




Q & A

We collected the following questions during the webinar, and have provided answers below:

  • What category in the the social media marketing funnel would a user referring another person fall into?
    Whether you’re promoting your product, or someone else does that for you, promotion is still a promotion; You would track the results of this promotion in the same way–by leads. This question raises the issue of advocacy as another stage in the social media marketing funnel. Once you’ve gained a customer and transitioned through the act/sell stage, you need to keep this customer happy and eventually make him an evangelist of your product. This is the advocacy stage, and it’s best measured by renewals and referrals. In the social media marketing funnel, this stage will be tracked by the number of referrals, but also by the number of positive mentions of your brand, taking you back to the top of the funnel: to the monitor stage.
  • Would you consider time as part of the ROI? If you invest 300 hours for a $1 purchase, it’s a bad ROI
    Yes. Time is definitely part of your ROI calculations. In social media marketing, time will probably be the highest investment you will make. Tracking the time you invest in your social media activities is crucial for truly calculating your social media ROI.
  • How do you track leads from social media?
    There are many tools and services that can help you do that, both on an aggregate level (Google Analytics) and on a lead level (Ominture). What you need to find is an application that does more than just give you the data, it should help you measure and report on it. Optify gives you the ability to track, measure, and report on visitors and leads generated from your social media activities.

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