By Kimberlee Morrison at Social Times:
Since the early days of social media, the big question has been around measuring the return on investment. While it’s nice to know the value of a Facebook “like,” the real challenge for businesses is converting social media fans into paying customers.
A recent study from Adobe Digital Index, which tracked about 60 of the top 100 brands, indicates that marketers are getting smarter about engaging with social media audiences and seeing a higher return for social media marketing. In fact, revenue over cost was up nearly 60 percent in Q3 2013.
According to Adobe Digital Index Analyst Joe Martin, attributes this trend to a “social storm” of likes, retweets and pins being driven by a combination of demands by brands and consumers, and changes being made to platforms themselves. Facebook added graph search. Twitter added geo-targeting to its ads. Pinterest announced the beta launch of promoted pins. He says marketers are also getting better at engaging with consumers and customers are reciprocating by becoming brand fans on social media.
“Revenue is up, traffic is up, ad spending is up and click-through rates are up, with posts from Facebook, Twitter, Pinterest and Tumblr seeing the greatest results,” Martin says.
The report also indicated that while Facebook is still the leader in referral traffic, as the entire world of social media grows, Facebook shares are depleting. At the same time, Twitter referral traffic is up more than 250 percent and referrals from Pinterest are up more than 80 percent, with Pinterest emerging as a leader in retail conversions.
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