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Social Media Evaluation Metrics

Author

Listed:
  • Ronalds Skulme

    (University of Latvia)

  • Valerijs Praude

    (University of Latvia)

Abstract

Background. There are many methods how specialists can evaluate return of online marketing activities. Most of the methods out there are designed for versatile use, but each online marketing tool has its own unique specific metrics that should be taken into account when measuring the return of marketing activities. The Authors believe that the methods designed to evaluate online marketing activities should also be more specific. Hence, the Authors believe that more specific online marketing revenue determination methods should be proposed. Objectives. The aim of this paper is to propose a formula that can be used to evaluate the return of social media activities while taking into account different consumer purchase decision stages. Methodology. To achieve the aim of this paper, following research methods were used: theoretical literature analysis, expert surveys, grouping and statistical analysis methods. Data. The proposed formula was based on the data that was collected from theoretical literature analysis and expert surveys. Results. The main result of this paper was to propose a formula, which can calculate the return of social media activities while taking into account different consumer purchase decision stages. Main contribution of the paper. This paper offers a new approach to evaluating the return of social media activities, depending on which purchase decision process stage online marketing activity was meant to influence. This paper can be used as a basis for further research where social media activity revenue evaluation methods are discussed. Marketing specialists can use this paper as an example of how to evaluate the return of social media activities.

Suggested Citation

  • Ronalds Skulme & Valerijs Praude, 2016. "Social Media Evaluation Metrics," Oeconomia Copernicana, Institute of Economic Research, vol. 7(1), pages 131-142, March.
    • Handle: RePEc:pes:ieroec:v:7:y:2016:i:1:p:131-142
    DOI: 10.12775/OeC.2016.009
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    References listed on IDEAS

    as
    1. Samson, Alain & Voyer, Benjamin G., 2014. "Emergency purchasing situations: implications for consumer decision-making," LSE Research Online Documents on Economics 57074, London School of Economics and Political Science, LSE Library.
    2. Samson, Alain & Voyer, Benjamin G., 2014. "Emergency purchasing situations: Implications for consumer decision-making," Journal of Economic Psychology, Elsevier, vol. 44(C), pages 21-33.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Ponzoa, José M. & Gómez, Andrés & Mas, José M., 2023. "EU27 and USA institutions in the digital ecosystem: Proposal for a digital presence measurement index," Journal of Business Research, Elsevier, vol. 154(C).

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    More about this item

    Keywords

    social media marketing; social media metrics; social media evaluation; consumer purchase decision process;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • M39 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Other

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