Social Media Strategy and Return on Investment

Amy Van Looy
Additional contact information
Amy Van Looy: Ghent University

Chapter 3 in Social Media Management, 2016, pp 49-62 from Springer

Abstract: Abstract In this chapter the reader will learn that organizations should not use social media as such, just to use social media as a new hype. Instead, social media initiatives should serve social media strategies, which in turn should serve the organization’s strategies. The chapter shows how social media strategies and corresponding tactics can be derived from the business objectives and how key performance indicators (KPIs) and tactics can be formulated in a SMART way (i.e., as concrete as possible, in order to know what to evaluate). Possible initiatives to execute a social media strategy are covered in the subsequent chapters. While executing a social media strategy, an organization should constantly monitor its initiatives, evaluate whether they pay off, and possibly redirect the strategy. Particularly, social media initiatives do not pay off by merely having a lot of “followers” or many “likes” in social media tools, but by reaching a high return on investment (ROI). Consequently, this chapter also emphasizes the importance of evaluating a social media strategy by means of social actions, business actions (e.g., sales or the number of subscriptions to a newsletter), and ultimately ROI.

Keywords: Audit; SWOT analysisSWOT analysis; Social media strategystrategy; Social media tactic; Social media strategic plan; Business objectives; Key performance indicator (KPIKPI ); SMARTSMART; Social media monitoringmonitoring; Web analytics; Social media analytics; Performance outcomes; 10–90 rule; Return on investmentinvestment (ROIROI ) (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-319-21990-5_3

Ordering information: This item can be ordered from
http://www.springer.com/9783319219905

DOI: 10.1007/978-3-319-21990-5_3

Access Statistics for this chapter

More chapters in Springer Texts in Business and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().