Social media ROI (return on investment) has been a hot topic for years. Unfortunately, it’s also a topic that is widely misunderstood. Whenever you find an article on social media ROI, you’re likely to be greeted by one of the following four misconceptions. Let’s take a look at them and find out why they are not always correct.
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After recently analyzing data from the SumAll community, we revealed how Instagram users are ten times more likely to be engaged than Facebook and Twitter. Moreover, our findings showed they're also more willing to purchase goods and provide monetary value to businesses who have a presence on Instagram.
Shopify is not only one of the leading ecommerce platforms, it's also a favorite data stream of the SumAll community and vice versa with Shopify naming us one of the top 10 apps of 2012. As SumAll users connect their Shopify data to their other streams like Google Adwords, Facebook, and Twitter, ways to improve conversion optimization is always a hotly debated topic.
Before the days of online selling, there was the Mom-and-Pop corner store. If you were a smart proprietor, you knew your customers, their buying habits, their likes, their dislikes, etc. Based on that knowledge, you knew what products to introduce to your customers, how to entice them to buy, how to close the sale and even how to fulfill their needs in the future with a possible up-sell in it for you.
We've recently received a ton of press, ranging from the Wall Street Journal to a live segment on Fox News that you can watch above, on the fact that any employee can access any other employee's financial compensation. We've also been met with a wide array of feedback regarding this decision so we wanted to offer more thoughts on our reasoning.
SumAll was founded on the basis of doing things differently. We were brand new company in a completely new and emerging field with the entire foundation of our business being data transparency. If our business was in data transparency, we decided our culture needed to be a reflection of this. That's why we decided to have an open cap table that anyone can view, why any company wide decision is left up to a vote, and why we have a flat heirarchy. If we were going to be serious about our dedication to making data available to everyone, then this idea of transparency needed to be mirrored throughout our company. Almost two years later and our values and ideals are still as strong as they were.