Measuring ROI For Social Media
The Social Media ROI Conundrum
Nathan Linnell | Feb 24, 2011
Social media ROI has been a hot topic of late and will be a primary focus of many marketers in 2011. Whether that leads to marketers determining satisfactory methods of calculating social media ROI is still unknown, but they sure will be trying.
This is evident in a recent report by the Altimeter Group, which shows that developing ROI measurements is the primary focus of 48 percent of social strategists.
This is also backed up by a recent eMarketer report that shows the increased focus on ROI metrics. Specifically, the report shows the heightened focus on measuring conversions and revenue from social media efforts.
Before you go headlong into the arduous process of trying to determine your social media ROI, it’s best to take a step back and evaluate what is true ROI and what are the other benefits of social media that may not fall into a direct ROI calculation.
ROI can have different meanings to different people, but it’s really a financial calculation and should be treated as one when looking at social media metrics.
More of the article can be found here