Thursday, March 30, 2017

Measuring a Company

Since 2009, companies have gone through many changes with the wave of social media. It is easier to measure results of campaigns and advertisements, and individuals can network with people across the world!

However, an early myth caused companies to believe that measuring results would cost too much and they would only lose money. Katie Delahaye Paine, author of "Measure What Matters", crushed this myth by stating that businesses will only lose money if they aren't aware of an unsuccessful tactic.

Today, more resources have become available and most are free! Companies should easily be able to afford these tools; all it takes is time to set up.

So what do you measure? Typically, companies will measure a Return on Investment, or ROI. This can be measured by taking the total amount earned and subtracting the project's budget. Also, many social media platforms have tools that allow you to see who is engaging in your posts and what posts are the most popular.

Once you are able to determine the people you are reaching and the money you have made, you can successfully prepare for your next campaign by basing it on the appropriate target audience!

1 comment:

  1. All of these facts are so important. I think it is Important for people to understand that it is not too expensive to measure results. The lost of money can come more from using an unsuccessful plan. Also, determining the audience that your company is trying to reach is a huge part of deciding what plan to put into action. A focus on audience is key to any business.