Web 2.0 or social media is used to describe the various technologies and experiences that involve online communities where members contribute to and build the community and content, and where users can substantially control their own online experience through customisation and interactivity. Wikipedia, Facebook and Instagram are well-known examples. Instagram is the world’s fastest growing social media platform, bought by Facebook in September 2012 for over $700m. The photo-sharing platform now has more than 100m active monthly users uploading 40m photos a day, and has become the target for brands seeking to reach consumers through the platform. The platform has an average of 8,500 likes per second and 1000 comments per minute.
One of the dangers for companies is that negative consumer stories travel great distances on social media.
Evaluating e-marketing effectiveness – It is difficult to measure the effectiveness of e-marketing. There are some technical tools that do offer very specific data on the success of some types of online activities, but it can also be difficult to decide exactly what success is. Some online marketing efforts are much easier to evaluate. For example, web sites that offer an e-commerce facility get direct feedback through purchase volumes. Online advertising is one area that offers more potential for marketers to assess effectiveness. If a customer visits a store after seeing a newspaper or television advertisement for the store, the business may never know that it was the advertisement that prompted the store visit. Online, however, the consumer will ‘visit the store’ by clicking on the advertisement. Hence, there is direct feedback as to the effectiveness of the advertisement. The business may never know how many people ignored the advertisement but they will know exactly how many people clicked on it (and, therefore, how much it cost per person) and then exactly how many people went on to complete a transaction. The interactive nature of the online environment also offers opportunities for detailed qualitative information from consumers. Feedback forms, chat services, forums and online communities all encourage consumers to communicate directly with the business. Marketing organisations are also well advised to look beyond their own online presence. There is a proliferation of online communities dedicated to consumer reviews and these can provide valuable feedback to businesses.
Perhaps you can estimate the value of a click, or social actions such as buzz, likes and shares but what about fake data? See this link for more https://adage.com/article/digital/fake-pageviews-cost-advertisers-6-million-month/240438/?utm_source=digital_email&utm_medium=newsletter&utm_campaign=adage
Some of the methods used to measure and price are at right