For obvious reasons, ‘proven ability to generate ROI using social channels’ is always a part of every client checklist when selecting a social media firm. But what type of return can a brand realistically expect from their partners’ efforts?
We just ‘refound’ an infographic on the topic from late last year. It’s so good, we thought it’s worth revisiting here.
While any social media firm worth employing will know these stats and be able to talk knowledgeably about measurement programmes, the perfect client-side marketer will also be aware and able to challenge shortlisted firms’ strategies and ask good questions.
A question which seems to come up in most pitches is whether the pay-off for social media activities are solely brand building, or if there will be a visible revenue rise. This infographic suggests that the impact of social will be felt on the p&l, as 50% of marketers reported an uplift in revenue, 11% reported a reduced call volume, 23% an increased average order value and 16% noted reduced returns as a result of their social presence.
We also love the end note on this infographic by MDG Advertising, which quotes a recent Forrester Report; it suggests that the impact of a solid social media programme will be felt in four areas:
- Financial: Both decreased costs and increased sales
- Brand: Have perceptions of the brand improved
- Risk Management: Better prepared to handle issues that affect brand reputation
- Digital Assets: Has the brand increased its digital assets (especially helpful in raising a firm’s relevance for SEO)
The next pressing question is how long does it take, on average, to see returns from a social media presence? And how much is enough?
So, what do you think?
