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The best way of measuring ROI for Social Media.

I posted a question on the best way to measure ROI for Social Media on my Linkedin, as I am doing research on ROI methods for Social Media for an upcoming Marketing Technology Summit, at which I will be speaking.

 The Question posted was:

How are you measuring your ROI on your social media?  What’s working for you?  Researching examples for an upcoming talk.

This topic is top of mind for CMO’s. What is really working in social media?  How do you know if it is working?  How do you measure it and how do you plan and report out on a realistic ROI on social media?

I will add replies below as comments come in. Please feel free to add your own.

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9 Responses

  1. You might want to check out Andrew McAfee:
    http://andrewmcafee.org/2006/05/enterprise_20_version_20/
    He speaks of the 5 myths of collaboration tools (includes social media) and ROI is one he addresses

  2. ROI on social media is basically working with chaos theory. The main focus I have in social media marketing and measurement is to focus on the goal, measure what you can: followers, fans, bloggers, links. Impact and preception is the bottom line. Don’t get me wrong that I’m throwing out metrics like the baby and the bathwater. You taught me that you can’t manage what you can’t measure, but you have to take unpresidented metrics into account that are not always qualitive or quantitive. Here are a few links to blog discusions on ROI & social media that can help expalin other tactics.:

    http://www.livingstonbuzz.com/2007/12/19/measurement-meme-redux/
    http://nten.org/blog/2008/01/11/the-roi-of-social-media

    i hope this helps!

  3. Very interesting question Karen. I am thinking about an answer.

  4. Thanks for sharing this slide share presentation. Very funny and good to explain the process.

  5. This ROI research is for a fee. Forrester and Dr. Natalie are the best in the business.

    http://www.forrester.com/Research/Document/Excerpt/0,7211,48002,00.html

  6. Here is the ROI for Customer Service Communities for social meda.
    Forrester and Dr Natalie rocks!

    Very Interesting

  7. Perhaps the third time is a charm. Try this new link for the info from Dr. Natalie that she sent on ROI for socla media customer service.

    http://www.slideshare.net/drnatalie/dr-natalie-petouhoff-roi-of-social-media-social-media-club-presentation-forrester-research

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