The journey from follower to customer varies to such a large extent, it’s hard to sum it up in a neat analogy or metaphor. Tying social tactics directly to revenue is easier said than done, creating tension when competing for resources and budget.
At Sprout Social, we recognize the hurdles that come with understanding social media ROI. We also recognize the transformative impact social can have on a business. That’s why we’re dedicated to creating solutions that elevate even the most sophisticated social strategies, creating a clear line from social insights to return on investment.
To better understand Sprout Social’s ROI, we commissioned a Total Economic Impact™ study conducted by Forrester Consulting that clearly quantifies how a composite organization comprised of our customers benefited from our platform. We’re delighted to learn that Sprout delivered a 233% return on investment over three years, resulting in up to $1.3M in savings.
We believe that the data, use cases and customer testimonials in this report can be an asset as brands build their business case to invest more in their social strategy
With Sprout Social, teams reclaim time and resources to invest back in creativity and customer connections, so brands can harness the power of the channel to drive revenue and business impact.
The ROI of social media management
Social media is a vast and sprawling ecosystem. Navigating all that it has to offer can feel like a game of whack-a-mole. If you direct all your focus in one area, you risk missing another.
The right social media management platform demystifies the game, allowing you to capitalize on every opportunity to build an audience—and drive revenue—for your business. The time saved around publishing, scheduling and reporting will empower you to maintain agility and innovate. Advanced analytics capabilities provide data that yields org-wide impact, from marketing to sales to HR.
This is how brands expand the value of social beyond marketing and communications. Social media ROI starts with strong visibility and collaboration between social teams and other departments. The best possible software solution elevates social data, taking it from simple KPIs to the foundation for making key business decisions.
The ROI of Sprout Social
Getting to the ideal state outlined above requires an intuitive platform teams love to use. Making the wrong choice can lead to unforeseen expenses – from team inefficiencies to a sunk cost on a product no one uses.
The Total Economic Impact™ of Sprout Social study found that our platform boosted team productivity, provided intuitive reporting, enhanced customer interactions and established critical governance. Customers even described Sprout as a “can’t live without” resource. Here’s why:
The benefits of Sprout Social
To fully understand the benefits of Sprout Social, let’s unpack some of the numbers that feed into the $1.3M estimated savings. Over three years, our platform helped brands:
- Boost team efficiency and productivity by 55% in year 3, saving $973K
- Eliminate manual data consolidation to prepare monthly reports by 75%, saving $39K
- Reduce reliance on paid media through Employee Advocacy, saving $233K
- Save up to $473K by consolidating legacy data solutions
On top of these savings, Sprout helped brands move in lockstep with their audience, anticipating needs and delivering in record times. Brands using Sprout stay in constant contact with their customers while remaining ahead of any social media crises, saving customer experience teams up to $142K.
“Because of [Smart Inbox], we are demonstrating to our community that we’re not only addressing the customer we’re interacting with, we are also a reliable channel.”
– Community and social engagement team lead, SaaS organization
We believe these numbers are a direct result of our unparalleled focus on customer needs, along with a long-standing commitment to research and development that keeps us moving at the speed of social. We’re honored to partner with over 34,000 brands, providing them with elegant, intuitive solutions that drive business impact.
Is Sprout Social worth it?
These savings are pretty impressive numbers, but they’re only a fraction of the value you can get from choosing Sprout. Yes, our product helps streamline processes, speed up time-to-insights and develop a 360-degree view of customer activity. That said, we also understand that working in social media will always involve a layer of mystery.
Algorithms change, platforms go in and out of fashion, consumer usage trends shift. We know that in order to keep up, we must also move boldly toward the unknown.
That’s why we work with leading technology providers and social media platforms to solve hard problems and relay best practices back to our customers. With Sprout, you not only get outsized ROI—you also get a partner in navigating social media’s ever-changing terrain.
Get a full view of Sprout Social’s ROI
Sprout can help propel your brand to the next level of social media management. It’s a new playing field where social is integrated at every level of a company and social media professionals are empowered to drive real business innovation.
Get a clearer look at how our tools can transform your approach by downloading The Total Economic Impact™ Of Sprout Social study today.
Sprout Social vs Khoros: The best tool for your brand in 2024Published on February 22, 2024 Reading time 8 minutes