ROI is a difficult thing to measure, mainly because most marketers don't know how to track how much they have spent. They also don't know how much they have spent to get what it is they have made. It is a difficult thing to keep tabs on, you never know what you have done specifically to make the money that you have. A lack of understanding and a lack of data is what drives people into a lack of understanding.
- It is challenging for marketers to understand precisely what their return on investment is.
- Calculation based on ad spend is not sufficient and will not give marketers a fair assessment of the true return on investment.
- It is essential to know what those running the company want to achieve while calculating the return on investment from a marketing perspective.
"ROI is a financial mathematical equation: the money you earn, minus what you spent to earn that money, divided by how much you spent."
Read more: https://www.socialmediaexaminer.com/social-media-roi-how-to-measure-social-marketing-christopher-penn/
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