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3 Routes to Social Media ROI
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3 Routes to Social Media ROI

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Proving ROI from social / earned media activity is not impossible. It does however require 3 core abilities from a brand …

Proving ROI from social / earned media activity is not impossible. It does however require 3 core abilities from a brand
1. a methodical approach to measuring micro social metrics
2. an accurate measurement of Share of Voice and Sentiment (which is not possible to get from any of the "listening" tools out there - Radian 6, brandwatch etc) – you need a process like the Human Digital Active Listening Service
3. an ability to manipulate data, in order to find correlations between social metrics and financial ones

Published in: Business, Technology

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  • 1. The 3 Routes to Proving ROI from Social Media Activity
    Clear correlation between a specific Socialmetric and a financial one
    1
    Traffic tagged from a social asset – directly attributable to a financial metric (usually a sale)
    2
    Followers
    Reduction in cost
    Financial Metrics(from which we can calculate ROI - amount of money made, minus the amount of money spent, divided by the amount spent)
    Sales
    Likes
    Social Metrics(metrics associated with specific tactics – Facebook, Twitter, blogs etc)
    Retweets
    Revenue
    Views
    Share of Voice
    Sentiment (by topic)
    Social activity in aggregate, impacts “Macro” Social Metrics…..
    ….a clear correlation established, between a Macro Social metric and a financial one
    3
    Topic
    All © 2011 Mark Bjornsgaard http://strategicdigitalthinking.blogspot.com/