With business from all sectors using social media to expand their consumer base and reach them, some use it as an additional channel to reach consumers, some for popularity and support, for some it’s the core communication method to attract consumers.
With business whose majority of consumes are made and reached they have to take marketing through social media and online marketing seriously, and have most of their marketing budget dedicated for it ,still they have subdivisions a multichannel model of marketing through online has various channels like Social Media, Google SEO, Online Advertising and outdoor Advertising which eventually routs to web .
so now, how to account the money spent on these marketing campaigns what metrics they have to use to gather information to keep track of their spending and also where and when to divert their investments .
Usually ROI (return on investment) gives information in general, for more specific information relating to marketing ROMI (return on marketing investment) is used . In definition ROMI = total revenue from marketing / money spend on marketing.
Since social media is vast and has very large variety of users calculating gathering information is a difficult and complex procedure and even when data is collected it make difficult to measure accuracy of what consumer is looking.
And potential consumers can be from different social media platforms and navigate through links from each other that is also very hard to come to conclusion from where consumer interest is and where marketers need to concentrate.
If marketers are going with specific areas to measure it can be more accurate and clear. Example if
Measuring number of visits per week or number of people from certain face book community , number of people joining in a week etc .
So fragmenting the information collected by areas, interests and what can be measurable in short term periods can be useful and quantum it when required for large scale can be really helpful .