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Social media’s return on investment in an integrated marketing campaign: Media mix modelling
As a brand increases its social media investment, there is a greater need for advertisers and marketers to measure and assess their return on investment. This paper examines the social media performance model (SMPM) using a national restaurant chain’s holiday campaign. It finds that the brand’s advertising spending on Facebook and Instagram was associated with two key performance indicators – website sessions and revenue. The SMPM enabled data-driven strategic insights that were used to impact business outcomes achieved not only through organic and paid social media but also other forms of marketing communication efforts.
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Gary B. Wilcox is the John A. Beck Centennial Professor in Communication at the Stan Richards School of Advertising & Public Relations. He is also an associated faculty in the Department of Statistics & Data Sciences and the Center for Health Communication at UT Austin. Dr Wilcox holds a PhD from Michigan State University and two degrees from UT Austin. His recent research interests include unstructured data analysis, social media analytic models and advertising’s effects on alcohol products and brands.
Arnold Chung is data science consultant at Accenture. He is consulting with Fortune 500 companies and provides holistic solutions to business clients with a Big Data and machine-learning perspective. He holds a PhD and MA from the University of Texas at Austin.