Is ROI the right Measurement for Social Media Initiatives?

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Permalink Reply by Connie Bensen on October 14, 2008 at 10:04pm

These are great questions!

How to measure the investment:
The one thing about social media initiatives is that they're fairly low cost to implement. A simple word of mouth effort requires planning & time. The success of it depends on creativity & how unique & noteworthy people find it. Is it worth talking about?
So the measure is the time required for planning & implementation. If technology is required then add that.

Planning + Implementation = Initiative

How to measure the return:
This is where SM2 comes into play. Monitoring the results is what is interesting.
You'll want to decide what you're going to measure. With SM2 you can measure more than just the traditional analytics such as number of page visits, average time on site, etc

How much reach did your message get? and how quickly? Did influencers pick up the message & talk about it? (reaching out to them in your niche should have been part of the Implementation). How would you know who the influencers are? Again, using SM2 to monitor your niche would provide that information. By getting involved with the initiative & providing positive reinforcement you can continue to increase the message incrementally.

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