Looking to boost your return on investment from social media efforts? Of course you are. Alinean's social media ROI calculator for B2B vendors might be just the trick.
Though the social media marketing boom is undeniable and budgets are expected to triple over the next five years, many companies aren't making the necessary moves for adjustment. Altimeter Group in particular found benchmarking efforts to be lacking:
- 65% of corporations surveyed were only using Engagement Data as the top measurement metric
- Only 22% capture Product Revenue, a key element in quantifying value and ROI
With so little measurement going on behind the scenes, it's hard to say whether or not a company's social media efforts are carrying their own weight.
Enter Alinean, and the new Social Media ROI Calculator.
Social Media ROI Calculator
The Social Media ROI Calculator aims to help marketers dig up investment requirements, benefits and ROI. You plug in the numbers, Alinean does the rest:
The tool is still in beta, but after modeling the potential ROI of various programs Alinean found:
- Certain companies are realizing higher ROIs, particularly industries including: High Technology, Consumer Products, Retail, Travel, Media and Entertainment, Hospitality and Automotive;
- Most organizations are currently achieving a marginal ROI, especially: Energy, Utilities, Wholesale & Distribution, Pharmaceuticals, Healthcare, Chemicals and Professional Services/Service Providers;
- ROI success is best driven by a hierarchical approach to engagement
- Companies who aggressively pursue social media with innovative campaigns and best practices are achieving a significant ROI of 500% or more.
"In today's 'age of austerity' every significant investment requires proof of bottom-line impact – a condition called Frugalnomics," said Tom Pisello, Chairman and Founder of Alinean. "Alinean believes that social media spending has reached this accountability threshold, and continued funding is at risk for marketers not able to quantify the ROI from social media initiatives."
Okay, so it might be stating a bit of the obvious, but the tool may provide an important overall look into spending. Check it out here.