Define: Social Media ROI Cycle
We have product life cycles, customer life cycles, and marketing cycles. Now Jamie Turner gives us the social media ROI cycle. In Understanding the Social Media ROI Cycle, he divides the cycle into 3 stages:
- Launch: The brand starts to create a social media presence; results are negligible.
- Management: Customer engagement is the goal; firm may expect to see increased traffic.
- Optimization: Once the strategy is established, the goal is to generate social media ROI; if successful, the results should be revenue growth.
As social media continues to develop into a full-fledged intelligence and engagement tool, thought leaders and industry experts will continue to define and refine the processes and models that help firms understand and leverage social media platforms.
Where does your brand fall? How will you move your company from one stage to the next?