Social Media’s Elusive Goal: Return On Investment

NEW YORK — Three little words — return on investment — are something any brand with a social media presence is after. But how to get it remains the meta question — and it’s a topic most companies are reluctant to discuss because they just don’t have the numbers to prove there is any. ROI is difficult to track since most companies only receive data on last-click sales, making many brands and stores wary of sharing this information, according to Cannon Tekstar Hodge, a social media consultant. “Because it can be difficult to collect data and exact customer behavior leading up to a sale, companies prefer sharing numbers that are most finite, which typically is limited to engagement rates and estimations,” Hodge said. So firms are more than willing to spew out data on impressions or “likes” on their social media, but when it comes to ROI, they snap shut faster than a Venus flytrap. Facebook-owned Instagram — or fashion and retail’s go-to social medium — hasn’t made it easy for brands trying to sell their products. The platform doesn’t allow for linking out in posts or any sort of commerce, which makes it hard to track purchases it has influenced. Nonetheless, the vast majority

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