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Social Media Marketing: ROI cannot be measured in dollars

August 23, 2021 | Peter Chubb
Social Media Marketing: ROI cannot be measured in dollars

It is no secret that social media marketing can take up a huge percentage of a company’s budget, and this will only increase as more take on this new form of brand awareness. There are some companies who are not familiar with social media, so have a number of questions when it comes to measuring their ROI.

Eric Groves from Fast Company has taken a closer look into this and points out that a return of investment cannot be measured just in dollars – there are a number of other benefits. Groves certainly has a strange analogy, where he aims to compare a business to an automobile.

Groves believes that the engine is the customer experience in business, a good engine is needed for the car and good customer experience is needed in each company. The fuel in the car keeps things running, and that’s compared to the fuel for passion – offering the customer what they want to keep them coming back for more.

The thing that you need to remember is that you always need to offer the customer something, they may not earn you something much all the time, but a returning customer is always better of than a one-time customer. Just remember to keep things fresh and exciting. For an in-depth look at your social media ROI visit Fact Company.

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