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Return on Investment in Social Media Marketing: Literature Review and Suggestions for Future Research
Lal, B. Ismagilova, Elvira Dwivedi, Y.K. Kwayu, S.
Lal, B.
Ismagilova, Elvira
Dwivedi, Y.K.
Kwayu, S.
Publication Date
2020
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© 2020 Springer. Reproduced in accordance with the publisher's self-archiving policy.
The final publication is available at Springer via https://doi.org/10.1007/978-3-030-24374-6_1
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Yes
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openAccess
Accepted for publication
2018-09
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Abstract
Social media facilitates and enhances communication between businesses and customers. Nowadays, although it is commonly recognised that companies implement social media into their marketing activities, it is also acknowledged that companies struggle to calculate the return on investment (ROI) from social media marketing efforts as most of them focus only on certain tangible outcomes such as the impact on sales and purchases. Attempts have been made by researchers to identify how to measure key impacts of social media in relation to marketing; however, there remains a lack of empirical data and no comprehensive overview of what “ROI” can mean for an organisation seeking returns on their social media adoption. By knowing how to measure ROI from social media, companies can produce valuable insights which can help enhance marketing strategies in promoting their products/services. Thus, the aim of this chapter is to provide a review of ROI in social media marketing with a particular focus on intangible outcomes such as brand awareness, customer engagement/relationship and eWOM.
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Accepted manuscript
Citation
Lal B, Ismagilova E, Dwivedi YK et al (2020) Return on Investment in Social Media Marketing: Literature Review and Suggestions for Future Research. In: Rana NP, Slade EL, Sahu GP et al (Eds) Digital and Social Media Marketing: Emerging Applications and Theoretical Development. Springer.
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Type
Book chapter