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Social Marketing ROI - Yes, You Can!

Anything that can be measured can be used to calculate ROI, and that includes social media. Many people say the ROI of social marketing can't be measured, but I beg to differ. Here are some guidelines for measuring the value of a visitor, a community and even a tweet!

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Unraveling the Mysteryof Social Marketing ROI,[object Object],Paul Gillin, author,[object Object],The New Influencers,[object Object],Secrets of Social Media Marketing,[object Object],Social Marketing to the Business Customer,[object Object]
Is it,[object Object],Return on Investment,[object Object],or,[object Object],Risk of Inaction?,[object Object]
It’s Simple, Knucklehead,[object Object],(GAIN FROM INVESTMENT - COST OF INVESTMENT),[object Object],ROI = ,[object Object],COST OF INVESTMENT,[object Object]
Types Of Financial Impact,[object Object],B. Costs Avoided,[object Object],A. Revenue,[object Object],Anything that leads to A or B,,[object Object],But only if you can directly equate its value to an action,[object Object]
These are NOT ROI,[object Object],Press coverage,[object Object],Impressions,[object Object],Website Visitors,[object Object],Video views,[object Object],Click-throughs,[object Object],Retweets,[object Object],Coupons distributed,[object Object],Store visits,[object Object],“Buzz”,[object Object],Friends,[object Object],Blog comments,[object Object],Employment applications,[object Object],FaceBook friends,[object Object],Twitter followers,[object Object],But if you can quantify their financial impact, you have ROI!,[object Object]
What You Need,[object Object],Historical Metrics,[object Object],Excellent CRM Tools and Practices,[object Object],Clearly Understood and Applied Web Analytics,[object Object]
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Social Marketing ROI - Yes, You Can!