From Social Media ROI – Part 1 and Social Media ROI – Part 2, we saw different ways of calculating the Social Media ROI. In the third part, I am introducing a down-loadable Excel spread sheet (link at the bottom of this post) for calculating the Social Media ROI. The spread sheet is based on the following:
Social Search is a concept that keeps popping up but there does not seem to be a common understanding of what exactly it is. This post will attempt to lay out a definition and then follow up why social search is useful as an online/offline complement to non-social searches like offline library searches or online web searches. Read the rest of this entry »
In the summer of 2008, I created a slide deck about consumer predictive behavior for our online news and social network site.
As an internal deck, it is not beautified but it helped channel our thinking. Nevertheless, the deck tells a good story about consumer predictive behaviors and I would like to share it with the community. Read the rest of this entry »
From the last post, we saw that some folks argue that Social Media ROI can NOT be calculated and some folks argue that Social Media ROI can be calculated. We argue that Social Media ROI can be calculated and we will put forth a few different ways of calculating the Social Media ROI. Read the rest of this entry »
There is an ongoing discussion whether Return on Investment (ROI) should be used on Social Media. One camp argues that the primary reason ROI should not be part of Social Media is because the development of Social Media is so recent that the key performance indicators (KPI) used to calculate the ROI have not yet been defined. Moreover, this camp also argues that there is no reason to slow down the work on Social Media due to lack of ROI metrics. The metrics will be found at some point. Read the rest of this entry »
As we saw in a previous post, there were 80 million users of social networks in 2008, forecasted to increase to 115 million in four years. In addition, according to Media6degrees, a consumer who is connected to a customer is 2 to 30 times more responsive to promotions. These numbers alone should establish the benefits to a business. You need to be where your customers are. Read the rest of this entry »
There were 190 million adults online in the USA in 2008. Out of those, 80 million spent on average 14 hours a week in online social networks.
There were 11 million social network users in 2005, expected to grow to 115 million in 2013.
For businesses and social media marketers, this is a massive pool of consumers that appeared almost overnight. One can argue that this is a once-in-a-lifetime event. Read the rest of this entry »