Is social media really worth it for big companies? Sure, there are lots of success stories involving small local businesses, including the recently popular street-food vendor craze. And both Groupon and Foursquare have contributed to small-business success.
But are social-media initiatives really valuable for large corporations? And how should an enterprise go about calculating the ROI of its efforts?
Here’s an infographic from SocialCast that examines what is working for large businesses and why. The three key areas to examine are:
- The level of employee engagement
- The employee turnover rate
- Sales results
Companies can use the suggestions below for how to measure each area to determine whether their efforts are improving the bottom line. And be sure to check out my list of 100+ monitoring tools to track and manage your brand’s engagement and reputation in the social-media sphere.