As more companies adopt social media for business dealings, leading organizations are trying to assess the actual value of using these tools. Companies are finding that while social media technologies do have business benefits, calculating the hard numbers of ROI is a difficult but necessary step as they try to decide what actions to take next.
One executive says a YouTube video helped prove the need that businesses need to invest resources in social media. A clip called “Dancing Otters” has attracted more than 900,000 viewers since it was posted two years ago.
Technical Support: A dedicated IT team is needed to work on development projects to support the social media initiative.
- Lack of dedicated resources to perform measurement analysis (30%)
- Don’t know what to measure
- Social media isn’t primarily about ROI
- Lack of tools