Social Media Strategies and Technologies
{Relationships start with social conversations}
I don’t want to write yet another Social Media ROI metrics post but I feel it is one of the over debated and misunderstood concept among many so called social media experts & practitioners because many people really don’t know what to measure, how to measure? so they think social media ROI cannot be measured.
The most common question businesses & clients ask when you pitch social media as a new medium for their Marketing, PR & Communications, Brand Building & Awareness, Customer Support & Service Channel and Products/Services Feedback Management Channel is “What is the ROI? and Measurement Metrics?” in the proposed social media strategy or “how do you prove the value of this new medium investment to our management team?“.
Unfortunately there has been lot of discussion & debate among many thought leaders in social media space ranging from questions like, do we really need to measure the social engagement of brands with their consumers? because value of human relationships cannot be measured!, how can you put ROI value on a conversations? to new definitions for ROI like “Risk of Ignorance”, “Return of Influence”, “Return on Conversations” etc, I feel none of these things can convince business decision makers when you pitch social media as a supplementary and potential channel for their business unless as a social media practitioner you really understand the “measurement models & real metrics” instead of thinking in terms of number of conversations, comments, retweets, followers & eyeballs attraction in online/offline channels. The problem with most of these arguments is they focus on impact” and “potential value” of your social media efforts instead of measuring actual results.
Jason Falls of Social Media Explorer put’s confusion around Social Media ROI is because of :
The problem with trying to determine ROI for social media is you are trying to put numeric quantities around human interactions and conversations, which are not quantifiable.
But I agree with @TheBrandBuilder perspective :
Marketing professionals need to understand this: If the investment (the “I”) is $$$, then the return also has to be $$$. It can’t be eyeballs or impressions or clickthroughs. You have to tie your results to a $ amount. Anything short of that, and you’re not proving your value to your boss or client.
What about if your prospect client asks you “How can you manage something if it cannot be measured?” - My experience is that “social media ROI is not difficult to measure if you understand the business objective of your clients and follow a measurement model that allows you to track financial & non-financial metrics of your social media engagement efforts“.
What are the metrics one need to measure?
I have been following Olivier Blanchard of TheBrandBuilder blog and Don Bartholomew of MetricsMan blog - whom I personally acknowledge as thought leaders in social media measurements space and also for making me understand the importance of measurement models and specific metrics of social media ROI along with Yong Fook and K D Paine for sharing their expertise in measurements space. I strongly believe “Social Media ROI isn’t about potential of your current engagement efforts but it’s about actual performance“.
I like the following measurement model which can help you understand the metrics to focus on while working on social media engagement for your brand or customers instead of avoiding the ROI questions from your prospects & clients because sooner than later you need to prove the ROI.
Also one need to understand that ROI is related to the actual performance/outcome from your engagement not just eyeballs like I said earlier - you need to differential your metrics into based on financial and non-financial attributes.
The “Action, Reaction” in above diagram are actually related to “Exposure, Engagement & Influence”. When you map the above two models then you can determine the specific metrics that you need to measure to calculate the ROI for your engagement efforts.
What is your take on measurement models & metrics for social media ROI?.
I work as software consultant and social media guy - always love to learn some useful things to make my life colorful - An optimist known as amnigos alias Y.A.S.E - hey few people also call me Vijay Rayapati.If you got some work for me or just wanna talk then send an email. BTW-I love to read, code, blog, tweet, explore social media, teach and play with children.
Get in touch
ADVERTISE HERE
-
My Social Web Identity
This blog content is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 2.5 India License.
© 2009 Social Media Strategies and Technologies
Twitter Trackbacks for Why Social Media ROI Is The Most Over Debated & Misunderstood Topic? - Social Media Marketing in India | [smm-strategist.com] on Topsy.com | August 26th, 2009 at 10:51 pm #
[...] link is being shared on Twitter right now. @amnigos, an influential author, said RT @tweetmeme Why [...]
jdbasketball | August 27th, 2009 at 1:14 pm #
how would you consider twitter growth upon indian youth? @jdbasketball
ImpactWatch » Blog Archive » Top Social Media Monitoring & Measurement Posts of the Week | August 28th, 2009 at 7:27 pm #
[...] Why Social Media ROI Is The Most Over Debated & Misunderstood Topic? - Social Media Marketing in India [...]
Basics Of Social Media ROI By @TheBrandBuilder - Social Media Marketing in India | Digital Media Marketing Strategies for India | Social Media Marketing Case Studies ,Strategies and Online Industry Reports | August 31st, 2009 at 11:28 am #
[...] Of Social Media ROI By @TheBrandBuilder // In my previous post, Why Social Media ROI Is The Most Over Debated & Misunderstood Topic? , I had explained why we need to focus on the actual results (sales/revenue) from Social Media [...]
Ravi | September 10th, 2009 at 9:17 am #
couple of things here matters so much as Oliver said : if you can convince your boss, or client about value (most likely in form of $$), proposition’s impact is lost completely.
Having said that ROI is probably not the best metric here. What most internet guys (obv not having financial background) doesnt understand that if you invest(I) now then Returns(R) could be after a year as well.
This brings to another problem of attribution. HOw can I attribute my efforts (read : I) to the profits (read : R) generated after one year. This is hard or almost impossible to measure in today’s world.
Short term ROI and comparison of social media with other medium is just too stupid thing to do.
Thanks,
tursEfutIsorp | October 3rd, 2009 at 5:35 pm #
Welcome to MYBETWINN, the investment fund specializing in betting on sports events through bookmakers.
All investments are managed by a skilled team of professionals in the field, providing a steady income to all participants.
MYBETWINN provides a modern and simple way to earn money on the internet.
Types of investments:
Plan A: 20$ to $499 - 29 days investment period paying 1.5% daily
Plan B: $500 and upwards + 10% - 39 days investment period paying 2.5% daily
http://mybetwinn.net?ref=399 - For more details, please register at MyBetWinn.net
Rafordede | October 22nd, 2009 at 5:03 pm #
teens need cash ->>>african gays in australia <<<-thai teen porn
http://pics.hqtube.com/gallery/cum_filled_throats_3_angle_1_sc5_1.jpg http://pics.hqtube.com/gallery/gangland_36_sc3_3.jpg http://pics.hqtube.com/gallery/pink_eye_3_sc4_1.jpg http://pics.hqtube.com/gallery/gangland_38_sc2_2.jpg
amateur pregnant porn ->>>sex with your sister <<<-gang bang wife picture
fart porn free xxx porn vids
free porn vidz homemade porn movie galleries
fat gay porn icarly porn
.89 porn rabbits review porn
wun free porn free cumshot porn
simpsons hentai porn teentitans porn
free porn hub granny drunk porn
free porn xxx pics sample porn
porn star video bi porn free
granny porn clips swinger porn
full porn vids porn site review
african porn enema porn
free quality porn pics free 15 minutes of porn
index of video porn miami porn
mega porn sites hong kong porn
porn search no sign up slapping tits
barely legal teen porn ride the horse bdsm
ladyboy porn pics free latex anal whores
free indian porn busty shemale bodybuilders
young latina porn biggest dick in porn
prego porn free porn bloopers
japanese porn game show free gay boy porn
100 free teen porn passed out porn
free lesbian porn online tila porn pics
free anime porn sites long free porn
porn big tits boys food free porn
paypal porn free video porn amateur
free live webcam porn ariel and belle porn
dead porn stars seekmo porn
==3d porn sex 3D anime 3D cartoon xxx 3d==
teen 3d porn 3d amimated porn toons
3d anime movies porn 3d lesbian porn comics
3d crazy comic porn mmo 3d porn game
rapidshare 3d porn henti 3d porn videos
3d toon porn movies free 3d porn videos
young 3d porn comics 3d porn with glasses
Dingtityenady | November 9th, 2009 at 2:16 pm #
Your welcome everyone.
My computer worked not correctly, too much errors. Help me, please to fix buggs on my computer.
I used Windows XP.
With best regards,
Dingtityenady
eraffitty | November 21st, 2009 at 4:30 pm #
Good day !.
You may , probably curious to know how one can make real money .
There is no need to invest much at first. You may commense to get income with as small sum of money as 20-100 dollars.
AimTrust is what you haven`t ever dreamt of such a chance to become rich
AimTrust incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
It is based in Panama with offices everywhere: In USA, Canada, Cyprus.
Do you want to become really rich in short time?
That`s your chance That`s what you desire!
I`m happy and lucky, I began to get real money with the help of this company,
and I invite you to do the same. It`s all about how to select a correct partner utilizes your funds in a right way - that`s the AimTrust!.
I earn US$2,000 per day, and my first deposit was 1 grand only!
It`s easy to start , just click this link http://bankinfodata.net and go! Let`s take our chance together to get rid of nastiness of the life
erybearbumeme | December 17th, 2009 at 8:07 pm #
Hello,
My computer worked not correctly, too much mistakes and buggs. Help me, please to fix errors on my computer.
I used Win Vista.
Thanks,
erybearbumeme
Social Media Means No Privacy to Productivity to Measurements – Welcome To 201o - Social Media Strategies and Technologies | Digital Media Marketing Strategies for India | Social Media Marketing Case Studies ,Strategies and Online Industry Reports | December 31st, 2009 at 4:57 pm #
[...] concerns over privacy to organizational outcry of productivity while marketers moving from the effect of conversations to measuring the impacts of engagement and using evolving tools to organize their [...]