Social Media ROI in 4 minutes ...
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- What is the ROI of social networks? ...
- How do we measure? ...
- What tools are available? ...
More and more I ask questions of this kind, and I usually answer:
Do you know what the ROI of your address book? Phone ... and your company? ¿... And the magazine sent to customers loyalty club? ¿... And the purchasing department? ¿... And the first spot of the year again ...? - Less than 15% have an answer or even approximate - nay, the question is tricky because it often assumes a target return of a channel or a medium, whose business purpose is not defined (and you assure that anyone who has defined its business goal ... the answer is simple).
Why does it seem a difficult task? ... For measuring the ROI (of whatever) implies:
- know the amount of investment (in $, € or time) and ...
- q hat understand how to define "return" (customers, visitors, friends, reputation, sales, cost savings, increased margin% ...), ie well defined your goal.
- Having a model that translates to $ these objectives (ideally from a financial perspective. While it is often complicated, you can always get.
- Solving the dilemma vs. investment. expense, or have a clear temporal expectation. The problem faced by many managers is the requirement for short-term returns, it causes trying to measuring strategic actions in the short term, but which nevertheless are meaningful only be evaluated in length.
I like data, sometimes inspired and sometimes used to convince to take the wrong path ...
To demonstrate that the ROI in Social Media can be measured echéis I invite you to a look at this video:
