Marketing Week on brands’ efforts to prove the ROI of social
The Marketing Week contributor Rob Gray has shared an article highlighting how brands are looking to prove their ROI on social media.
Gray says, “Social media now accounts for 13.8% of marketers’ overall budgets, with spend increasing more over the past 12 month than in any other year, according to the latest CMO Survey. And this strong growth is only set to continue, as marketers expect social spend to rise to 16.3% over the next 12 months and to 22.9% within the next five years.
Despite social budgets rising, only 24.7% of marketers say they can actually prove the impact of social activity quantitatively, while a worrying 39.3% are unable to show its impact at all. These findings represent a slight improvement over previous years but clearly they are a long way short of the ideal.
So, what is being done to measure the business outcomes of social media activity? And can marketers prove their investment has delivered an impact on sales, retention, engagement, brand building or other key objectives?”.
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