Posted by Charu Dwivedi Sep 19th, 2011
With increasing competition in social media, almost everyone wants to grab a share of the “social” pie. Since almost all brands have taken the first step and made an online presence, it’s very effective if we analyse the benefits of it.
An important part of social media is about building valuable and sustainable relations. Therefore, each relation to a customer or user can be of value to the business depending on what kind of contributions the user gives to the community, the scope of conversations or quality of conversations. There is another set of marketing professionals who believe in doing their math, before launching any campaign on social media and setting out the KPIs and a target (in figures), which has to be achieved through their campaign.
Infographic by MDGadvertising
On our blog, we have already written on how to calculate the return on your campaign, where we have spoken about both qualitative and quantitative approach towards calculation of return on social media.
While reading more on this topic, we found an interesting infographic put together by MDGadvertising. The infographic given below is interesting for both the thought groups, the believers in quantitative approach as well as those who believe in building sustainable relationships through social media.
The infographic looks at a more developed approach towards social media, the one where CMOs understand that a campaign on social media is more than just getting clicks! The evolved approach on social media is more towards networking and building partnerships. Thus, the calculation of ROI on social media gets calculated accordingly. For every different approach, the KPIs and returns are measured accordingly.
Take a look at the infographic and do tell us which approach your brand follows:
Infographic by MDG Advertising