According to Dennis Yu, CEO of Blitzmetrics, if you want to measure social media ROI, you have to measure impact across all channels.
In other words, you have to allocate credit to the product itself, your offline marketing, the power of your retail stores and everything except Facebook itself.
In this conversation, Dennis and I explore how to assess the effectiveness of social media marketing in the current absence of measurement standards, the often false attribution of purchases to buyers' last measured action and other topics related to the complexity of assigning metrics to word-of-mouth marketing.
What do you think? How are you measuring the success of your social media advertising and marketing?
Here's the sales funnel to which Dennis refers in the latter half of the conversation:
This convo is sponsored by:
Vitrue, an original Facebook Preferred Developer Consultant, is the leading social marketing platform facilitating relationships between brands and their fans across multiple social networks via its software-as-a-service solutions. Social marketers and agencies world-wide use Vitrue's Social Relationship Management (SRM) platform and its Publisher, Tabs, Shop and Analytics products.
Brandwatch is one of the world's leading social media monitoring and analysis tools, with offices in the UK, US, Germany and Brazil. Global brands and agencies use our tool to cut through the noise on the social web and find the conversation that matters, empowering decisions that improve their business.
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Neil Glassman is principal marketing strategist at WhizBangPowWow, where he delivers integrated social, digital and linear media solutions. Join his conversations on Twitter and Google+.