The problem of calculating ROI on social media : A Literature Review
Govender, Praven (2010)
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The problem of calculating the ROI of one’s social media activities has plagued marketers since the inception of social media. This literature review seeks to tackle the problem of why this is. This paper also tries to answer why there exists a massive gap in peer reviewed literature on the subject, while the amount of non-peer reviewed literature is voluminous. The conclusions drawn from looking at a number of sources, is that social media has a multitude of benefits that are hard to quantify and measure. The statistical methods by which this can be done are not yet popularized or easily accessible to the average marketer who would be carrying out the measurements. The lack for peer reviewed papers in this arena has led to a flourishing of non-peer reviewed marketing literature that have questionable methodologies as well as motives. The average marketer can be often misguided by these documents, while searching for literature that would help prove the case of ROI on social media to their superiors, in order to justify their budgets within their company’s.