How measure Social Media's ROI ?

Last week, we broached the Social Media's Return On Investement (ROI).
Every company which invest in Social networks want Return On Investment. But the question is : How firms can measure it ?
I'm going to bring some findings in this new post.

ROI = (gain from Investment - Cost of Investment) / Cost of Investment

To measure ROI, businesses can begin easily by checking some points which could be relevant :
- Click Through Rate (CTR)
- Increase of followers
- Eyeballs (how many people are exposed to the website)
- Number of Likes, retweets, mentions

However, there are some tools more efficient.

• Step 1: Determine your Social Media Spend (SMS). This includes hard and soft costs like salary and equipement, including your time.
• Step 2: Determine your Customer Lifetime Value (CLV). It's important to get clear about the true value of customers in order to increase customer retention!
• Step 3: Determine New Customer Value (NCV) by using tracking software like Google analytics.
• Step 4: Add up your impressions from Twitter and Facebook, cumulative YouTube views, website traffic and any other online source to have a view.

Gathered, all these tactics and tools help every firm to measure its own Social Media's Return On Investment.