Most firms do not measure social media ROI, finds global survey
Over half of executives in the food and drink industries do not measure the return on investment (ROI) they get their use of social media, according to a global just-food survey.
More than 54% of industry professionals said they did not monitor the ROI that their companies make on social media networks. A further 18% “did not know” if the business in which they worked measured the returns.
The results was one of the more notable from a survey of over 500 food and drink executives from around the world that just-food conducted as part of its report into how companies in the industries used social media.
When asked by just-food what the “top three barriers to implementing a social media strategy were”, a number of respondents said it was difficult to measure the ROI.
“Showing the ROI of a Facebook fan or a Twitter follower”, was one barrier put forward.
However, some 52% of those surveyed said their companies now had a formal social media strategy. However, a quarter of executives said their companies had not devoted a part of their marketing budget to social media.
Nonetheless, over two-thirds of respondents said social media would be included in their companies’ next marketing budgets.
just-food is the world’s leading portal for the global pre-packaged food and retail industries. Its daily mix of breaking news, views, analysis and research serves over 100,000 food executives each month. http://www.just-food.com/