Social Media ROI

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Introduction
The term “Social Media” refers to “a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of User Generated Content” (Kaplan and Haenlein, 2010). It has become indispensable and significantly changed the way people do business, socialize and interact with brands. Consequently, firms began to invest in social media in the hope of reaching existing and potential customers or maintain credibility and reputation. However, some managers still hold scepticism and criticism on the return on investment (ROI) of social media. According to The Sunday Telegraph (2011), the investment in social media marketing by financial service companies such as banks had declined drastically since the end of 2011, because they were worried about the transparency brought by social channels and the possibility of generating negative returns. This means companies begin to withdraw promotion through social media when they are unsure or cannot control the consequence. Nevertheless, the ROI of social medi...

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