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Is Social Media Paying Its Money?

In: Strategic Innovative Marketing and Tourism

Author

Listed:
  • Theodoros Oikonomidis

    (University of Macedonia)

  • Konstantinos Fouskas

    (University of Macedonia)

Abstract

Businesses are seeking to achieve customer engagement through social media these days. With Facebook providing ready online places for each individual account through Facebook marketplace, it has become significantly easier for someone to build his own business on social media, a trend widely accepted and continuously rising. New smartphone capabilities are utilizing innovative ways of promoting items through social media applications. Digital influencers are working in collaboration with big brands and are seeking customer attention with appealing advertisement. Social media are offering, to identify customer segments that a business is targeting more efficiently. Facebook is offering the promotion of businesses’ products for a fee and businesses require to know whether this investment will bring the required ROI. This research focuses on predicting this ROI by developing a prediction model that calculates the number of received likes of potential customers through Facebook. By utilizing a dataset with 500 different posts of a cosmetics company that uses promotions through Facebook, for a social media campaign that ran for 12 months, we have built a numeric prediction model that estimates the received number of a business “likes” in every single post that is published on Facebook.

Suggested Citation

  • Theodoros Oikonomidis & Konstantinos Fouskas, 2019. "Is Social Media Paying Its Money?," Springer Proceedings in Business and Economics, in: Androniki Kavoura & Efstathios Kefallonitis & Apostolos Giovanis (ed.), Strategic Innovative Marketing and Tourism, pages 999-1006, Springer.
    • Handle: RePEc:spr:prbchp:978-3-030-12453-3_115
    DOI: 10.1007/978-3-030-12453-3_115
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