In order for companies to realize the maximum benefit from social media marketing, there needs to be a reasonable effort to set goals, forecast resources, and manage expectations.
The low-hanging fruit of social proof in the form of "likes," followers, and friends has a very different value than comments, content sharing, referrals, and other forms of engagement. Many companies (and their agencies) tout superficial metrics as evidence of success. The problem is, associating business value or revenue with 10,000 Facebook fans is a difficult sell in a boardroom.
Understanding the difference between key performance indicators and value to the business in the context of marketing goals can determine success or failure. Depending on objectives, there are a number of ways to measure social media success and it's important for companies to take a practical and business goals approach to marketing on the social web...... Read more.
