According to a report by San Mateo, California-based Altimeter Group, only 30% of brands surveyed consider themselves to be “effective” or “extremely effective” at measuring the impact that their social media strategies have on the revenue that their companies bring in. Fifty-six percent of marketers claimed that their biggest hurdle is the inability to tie social media to business outcomes. Thirty-nine percent cited a lack of analytics expertise or resources, and 38% cited poor social media tools. Moreover, 84% of survey respondents reported that the primary business impact of social media isn’t revenue generation, but rather insights that help them improve the customer experience.
We respectfully disagree. Social ‘followers’ have a tangible value. Social can generate sales. Social, like no other media, encourages referral that brings in new prospects and customers. The measures are there.