Posts Tagged ‘measure’

Calculating ROI for Social Media in Life Science

We often get asked by our life science and biotech clients how to calculate return on investment (ROI) for social media activities. Sometimes we are surprised, because the equation is the same as for any marketing activity, and the metrics are often easier to measure than with traditional tactics. We’ve realized, however, that the question is broader than this, and that life science companies want to see the connection between social media activities and their bottom line. We’ll address both concepts in this blog post, and would like to know your thoughts as well. Like many other ideas that are perceived as being new, social media can indeed be viewed as a new marketing tool, but we arrived at it as a natural progression, and life science companies are a great example. Thus, some of the guidelines we’ve outlined below will be familiar to you, some will be new, and we hope it helps you understand the process of determining ROI for social media in the life sciences. Establish a baseline. As with traditional marketing, you need to know where you’re starting in order to make sure your marketing is helping you to reach your goals. Several of the metrics […]

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