The Web Tycoon’s blog

Last week we seen how to monitor measurable things with marketing analytics and determine the ROI, and we also approached the concept of return on investment as a way to make your boss happy. But not every time in social media we have results that can be counted with numbers.

Sentimental Marketing analytics

Not for count the exact number of mentions, you will know if they are positive or not, so sentimental marketing analytics are so useful, but you can also use them to determine a baseline before implementing or changing a social media strategy and calculating your ROI.

With the tweetfel I discovered that about 50% of twitter users, do not like it.

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Marketing analytics reached the web 2.0 as companies and executives are beginning to use social media campaigns, there is a growing necessity to measure the ROI using marketing analytics. Without doing this, social media marketing wouldn’t work for everyone,because companies and brands need to know what are exactly doing with the money, and for this reason, the Return on Investment, or ROI, must be measured. The Marketing analytics to determine the profits of a social media campaign, aren’t easy because data is though to track, but I’m writing these two serial articles to explain how to track the pieces and measure the ROI you are getting on social media.

First of all, we need to know what is the ROI before beginning with marketing analytics around it, the formula is very simple:take the profits ( not the revenue), divide it by the expenditure, and multiply it by 100. The result is a percentage, a ROI less than zero, i.e -20%, means that we are losing money, and a positive one means the opposite. So companies love big ROIs because they want the highest profit possible.

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The return on investment (ROI) of social media, can be determined with marketing analytics. Measure the Social media ROI isn’t easy, but It’s a very important thing to ensure the approval of new budgets of new programs to the management teams. In other words, if there weren’t marketing analytics to determine statistics about the effectiveness of social media, companies wouldn’t be sure to invest money there.

These statistics are often more related with Public relations than with marketing, but as social media are a form of marketing, we can say marketing analytics as the way to extract useful data to determine the effectiveness of the campaign.

There Isn’t any standard on marketing analytics to measure social media ROI, there are many different criteria to determine whether a social media campaign is effective or not. Sometimes, people sends a tweet and increases $250.000 in sales, and the executives of the company are very happy with the results, but sometimes the campaign is just improving the image of the company.

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