A recent Huffington Post article declared that even asking whether social media marketing creates ROI "shows a complete lack of understanding of the communication revolution which we are experiencing." The real issue at hand today is measuring the social conversation occurring to be able to accurately decide which ones are working best for your brand. Gaining a large online following is one issue, but seeing a return of investment (or 'return of sharing') is another matter, and much harder to measure. Google Analytics offers statistics regarding page views and bounce rate, but it fails to measure influences, organic sharing, and which products that do best on which social media site. One of our startups, WhichSocial, has been designed to solve this exact problem. The software is currently being used by a large internet fashion group who have been witnessing a very positive result. Recently they posted an item on their Facebook page (which has over 70,000 likes) and sales were generated immediately.
Clearly, the campaign was highly successful but in order to learn why and just how successful it was, the brand needed to use WhichSocial. It was able to accurately pinpoint what made this post such a success, whether the customers were new or loyal followers, and if those who shared the post influenced others into purchasing. All this information is displayed in a visual format which is easy to read and quick to digest so that decisions can be made.
For more information, simply go to their site.