We are very excited to introduce our free online Facebook campaign Social Media ROI application. The application calculates your Facebook campaign’s Social Media Return measured in dollars. The application takes as input your campaign’s Facebook Insights metrics (instructions on our Facebook campaign site). The extremely important output metrics include total number of fans (increasing or … Continue reading Online tool – Facebook Social Media ROI
Update – this post was written about a year ago. This article is to some extent based on a white paper written by Lithium Technologies called “Community Health Index for Online Communities”. Lithium has development a technique to measure the health and assign a score of an online community based on membership, content, traffic, responsiveness, … Continue reading Thriving Social Network Community
There has been quite a bit of buzz lately about the Facebook Edgerank algorithm. The Edgerank algorithm is used by Facebook to rank posts on a user’s ‘top news’ feed to determine which posts should be shown on top of the ‘top news’ feed and which posts should not be shown on the ‘top news’ … Continue reading Facebook Edgerank Algorithm explained
This post is in reply to Priya Ramarkishnan (CMO AXIS) question on LinkedIn “What is the best way to find a Social Media Strategy and how does one find the ROI on Social Media.” I thought it was a good segway in to how to use our Social Media ROI application analytically.
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.
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
Clients come to us asking “how do we explain the value of Social Media to our clients and upper management?” The short answer is: show them the numbers… measured in dollars and cents. Using returns measured in dollars, you can prove that you bring in real quantifiable value to the company. This is extremely powerful.
The Social Media ROI discussion has gone through a number of growing pains in the last year. I have spent a fair amount of time discussing the SM ROI evolution and I have come to the point where I think there are three steps that will move the SM ROI to the importance it deserves.