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Is there any method to calculate ROI on social media campaigns?

Many a people wonder if there is a method by which we can know the ROI on social media campaigns. Just to remind, social media is a recent phenomena and it has been prominently used as a tool of marketing and promotion from barely three to four years. So, it is always difficult to measure the return on investment on it as it helps in business in some of the aspects which are difficult to be measured, such as popularity of a campaign, branding and trust level created. According to Dave Fleet, the Vice President of Digital at Edelman in Toronto, marketers have unnecessarily have made it a difficult concept.

He says that we must first list down business objectives and then it will not be difficult to monetize the impacts of a social media campaign. Because if branding is a business objective then naturally it will be counted as a monetary gain, if a successful social media is attracting the visitors to your site and giving way to engaging conversations about the product. According to a new search it is also a folly to think that if something works for a company, it is definitely going to work with some other company too. It varies. So, there is no way other than measuring it against predefined business goals.

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