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8 Resources for Understanding Social Media ROI

Assessing ROI is a fundamental and necessary function of business. The evolution and integration of Web 2.0 and social media into day-to-day business operations has made calculating ROI no less important. That being said,  social media ROI is still elusive to many social media marketers as they not only try to assess past performance, but look to guide future efforts.  This list is composed of eight total articles, books, and videos to provide you, the reader, ample resources to better understand and implement social media ROI within you own business. Please take a moment to vote for the resource you find most beneficial. As always, thank you for reading!

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#1 Climbing That Social Media Marketing Mountain

“Can You Measure the ROI of Your Social Media Marketing” provides a powerful introduction into assessing social media marketing ROI. The contents shared can best be described as a paradigm shift from focusing on the business to focusing on public/consumer engagement with a brand via Web 2.0. This is a great article for those who find themselves at the base of the social media marketing mountain and want to begin their climb to the top.

https://mccti.hugoramos.eu/Redes_Sociais_Online/TEXTOS_AULAS/TEXTO_AULA_10_Can%20You%20Measure%20the%20ROI%20of%20Your%20Social%20Media%20Marketing.pdf

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#2 Building Your ROI Framework

As a business owner, calculating traditional marketing ROI used to be somewhat basic. Today, even the most successful organizations find themselves scratching their heads regarding how to evaluate this Web 2.0 world we now live in. The authors of “Increasing the ROI of Social Media Marketing” focus on the benefits of incorporating influencers into your social media marketing campaign and gauging the ROI through applicable metrics.

https://sloanreview.mit.edu/files/2012/09/9a4df3d616.pdf

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#3 Use Social Media ROI to Focus Forward

“Social Media ROI” emphasizes using ROI to guide future efforts as much as it does evaluate whether past efforts were successful. The authors outline five key components to understanding today’s social media ROI, current challenges, and a step-by-step approach that any business with a social media presence will find beneficial.

http://search.ebscohost.com.ezproxy.lib.purdue.edu/login.aspx?direct=true&db=crh&AN=63643846&site=ehost-live

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#4 A Look Back Can Provide a Way Forward

Sometimes the best way forward is to evaluate where you’ve been. Tia Fisher outlines the historical struggles social media marketers have faced regarding social media ROI. How do you calculate social media ROI when qualitative data is just as important as quantitative data? “ROI in Social Media: A look at the arguments” provides a great historical platform to begin a social media ROI discussion.

https://link-springer-com.ezproxy.lib.purdue.edu/article/10.1057%2Fdbm.2009.16

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#5 ROI of Social Media

When today’s social media marketer has a basic understanding of the social media ROI, it becomes increasingly important to see these principles in application. That is exactly what this book by Powell, Groves, and Dimos provides as it takes the reader on a deep dive into 15 case studies. This book provides the necessary metrics to manage social marketing programs, to measure their success, to diagnose components that are lagging.

https://ebookcentral.proquest.com/lib/purdue/detail.action?docID=661670

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#6 The Social Media MBA Guide to ROI

This comprehensive book by Christer Holloman looks at measuring ROI through internal/external social media platforms. The book is designed to be a step-by-step guide from creation to implementation to evaluation for your social media marketing campaign. It takes the complex in determining social media ROI and makes it practical to everyday use.

https://ebookcentral.proquest.com/lib/purdue/detail.action?docID=1687061

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#7 Getting Your CEO’s Attention with Social Media ROI

This video will help the most skeptical CEO understand the impact social media can have on a company’s bottom-line. For example, this video outlines how traditional customer engagement costs (i.e. call centers, etc.) can be replaced by more efficient and even potentially more effective user-generated content like crowdsourcing to address the concerns of other customers. This video provides a nice blend of introducing easy to understand social media practices with traditional business fundamentals.

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#8 How to Measure ROI of Social Media

Social Media ROI may be your best adviser on what works and what doesn’t in your social media marketing. Many businesses make the mistake of thinking that calculating this type of ROI is impossible. This video is a literal “How-To” for calculating social media ROI. It even comes with a free downloadable social media ROI calculator spreadsheet to guide you.

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