|June 29, 2012|
|Calculate Social Media ROI with Ignite Social Media's Purchase Equivalency Calculator|
|By Jim Tobin|
As a social media agency, we've been thinking about social media ROI for five years. It's a complex question, made more complex by the fact that many companies cannot draw a direct line between a marketing action and a purchase. This is not unique to social media, as it's true of a lot of television advertising, public relations and many other tactics. And while we work with our clients to calculate direct ROI whenever possible, we are today releasing a new model that any brand can use to calculate their return from social media marketing.
Importantly, it is a relative measure of return. It does not purport to show a connection between social and sales. In this case, we're looking at whether the investment in social media marketing generates results that cost more or less than what it would cost to buy them through traditional online advertising.
Data You'll Need
The inputs are relatively direct. You provide:
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