Investing ?2M to find the ROI of social media

There’s a lot of buzz around how to measure the ROI of social media. Now a Norwegian project is investing ?2M to find out. The project is partly funded by Innovation Norway and the Norwegian Research Council.
The project is lead by Fanbooster, a Facebook Preferred Marketing Developer and a BETA startup at the Web Summit 2014.
– We truly believe social media marketing must take the next step and give real proof of value, says Erik Eggum, CEO of Fanbooster. That?s why we initiated and are investing in this project.

One of the largest e-tailers in the Nordics – Komplett.no – with a yearly revenue of ?203M, is on the project as project partner and contributes with in-depth knowledge on online shopping.

– We know social media marketing works, says Per Anders Tveit, Head of Social Media at Komplett.no. But we just don?t know the value and what the main drivers are. This project will find out.

The project will start showing results in 2015 and the algorithms is to be implemented in the Fanbooster Digital Marketing Platform.
– We believe in not only telling brands what to do, but also let the software predict the results and even do stuff automatically, says Erik Eggum. This project enables us to do just that.
Fanbooster is exhibiting at Web Summit Wednesday 5.nov. Stand number ETP113 in the Enterprise area.

Fanbooster tilbyr en komplett plattform for Facebook-markedsf?ring. Lag og administrer Facebook-annonser, f? inspirasjon, sett opp kampanjer, overv?k kampanjer og kommuniser med fans.
Fanbooster har kontor i 7 land, og kunder i 40 land. P? kundelisten st?r blant annet Norsk Tipping, Samsung, Telia, SAS og en rekke andre store og sm? akt?rer.
Hovedkontoret ligger i Kongsberg, men Fanbooster har kontorer i Oslo, Sverige, Finland, England, Nederland, India og Bulgaria.
Komplett.no is part of the Komplett Group. The Group’s 2013 revenue for the Nordic countries was 640MEUR in 2013.

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