©IDG Communications, Inc. Photo contributed by Matthew Mikaelian.
Measurement will look more toward the bottom line
Marketers appear to be inching closer to answering the question of social media ROI—or at least making a serious effort—as the stakes get higher.
eMarketer estimates four out of five US businesses with at least 100 employees will be marketing on social media this year, and US ad spending on social networks is expected to reach over $3 billion. And according to research from Bazaarvoice and The CMO Club, marketers are planning to change the way they measure the effectiveness of those dollars.
Site traffic, which was the top metric for social marketing success in 2010, will still be on top this year. But the No. 2 spot will change hands, as twice as many companies plan to pay attention to conversions. More marketers will measure success with conversions than by tallying fans and followers, positive buzz and a variety of other “soft” metrics. Revenues will see a similar surge in interest.