Social Media Today: ROI: How to Measure Return on Investment in Social Media
Bottom line: it’s difficult. But as Social Media Today blogger Brian Solis explains, it’s crucial that you make the effort and new approaches make it easier.
“Over the years, Social Media experts attempted to redefine ROI for a new era of influence. While some introduced alternative philosophies for measuring the nuances tied to social media, others wondered aloud whether ROI simply wasn’t necessary as the tools and methodologies for analyzing yields didn’t yet exist. And furthermore, by focusing on justification and metrics, we were distracted from the primary objective of building relationships and cultivating dialogue.
The debate over ROI inspired certain brands to cannonball into popular social networks to join the proverbial conversation without a plan or strategic objectives defined. At the same time, the lack of ROI standards and established authorities, unnerved many executives, preventing any form of experimentation until their questions and concerns were addressed.”
