I am often asked can you really quantify the Social Media ROI? My answer is always “yes, of course you can.” We will look at three different ways to quantify the Social Media ROI. Advertisements
Update (4/23/10) – we added Consumer Insights as a return channel to the Twitter campaign return and ROI calculator. Consumer Insights are invaluable to a company’s products strategies and thus a heavy value is placed on consumer insights. Using non-social media technologies, a company would use expensive focus groups to gather insight.
Today (April 13, 2010), Adweek came out with article describing how Vitrue determined the value of a Facebook fan. That got me thinking. First of all, the measurement “$$/fan” is misleading. The measurement should state “$$/fan/year” or month or some time period. Otherwise, it simply doesn’t make sense.
A few days ago, while discussing the Social Media ROI with a client, I realized that we were talking about two different things. It got me thinking – there are many different ways of defining the Social Media ROI. Some definitions have already been made Social Media Part 4 and Social Media Part 5. In … Continue reading Social Media ROI – three types of Social Media Return