Social media's ROI: Valuing Bulmers' cider fans
We Are Social
Measuring RoI should include sales and savings so overall value is considered, as Bulmers did to determine the value of its Facebook fans.
Competition among agencies from each marketing discipline for their share of a client's marketing budget remains as fierce as ever. Because of this, it's becoming increasingly important for each discipline to demonstrate how its strategies are providing a return on investment and adding value to a business.
Social media, as a fairly new marketing discipline, has often found itself under scrutiny in recent years for not being accountable (or not as accountable as other areas of the marketing mix) when it comes to the core business metric of RoI. The debate around social media RoI often gets sidetracked by a focus on measuring sales. Let's just clarify. RoI isn't just about measuring sales – it also encompasses savings, i.e. how costs have been reduced by the activity you are generating. The key is to focus on value – and expressing it within your social media activities. Once value is clearly defined, measuring RoI should be just around the corner.