Great summary, thanks! The watch-out here is that correlation is not causation. There are sophisticated statistical models that can take into account the various inputs and give a strong indication of the impact of the individual activities on, for example, sales. Marketing Mix Modeling is one example.
What isn't accounted for in the ROI discussion is the reputational impact -- much public relations activity is not in direct service to selling; it's not analogous to advertising (which is how we all got in trouble using AVE as a success measure.)
Marketing using social media is one thing -- PR using social media is another. You can quantify impact on relationships among your constituencies, but that's often a costly metric to develop. Sentiment analysis, as with mainstream media, is a descriptive metric of output, not outcome. There are few reliable metrics of quantity in social media (impressions or cost per impression don't really work), so we're left looking for implications: if the comment stream is positive, involves an audience we care about, is in targeted social media (bloggers, mainly), and reflects the diversity of our messaging, we can claim a modicum of success.
That's not going to satisfy the high-forehead types that want to see financial impact statements. But from a reputation management perspective, we can do research that places social media into the proper context among the other inputs to positive reputation.
It's an issue that so much of social media is individual to individual -- our systems of determining value don't apply too well in that space. But it's evident that we need to apply social media as a part of our reputation mix, depending on the objectives and organization.
Andrew Krebs-Smith
· 1 month ago
This is just great. Amazing presentation. Wish he was at Blog World Expo, the ROI presentation could have used some of these hard examples instead of just talking in circles.
I'm glad Mashable has this article and I feel this will be yet more evidence that businesses should be getting involved in Social Media as well as the world of advertising will be going through some serious changes and adaptations.
Kudos to Christina Great Article!
Honey Singh
· 2 weeks ago
I personally liked bit.ly, socialtoo, Xinureturns, Socialmention, Blogpulse, PostRank, ViralHeat and Broadtracker. These tools helps in social media tracking and analytics. Mentioned here: http://www.honeytechblog.com/top-10-social-medi...
Yeah, "Without an Analytics we can't predict about ROI" and even if you the ROI without goals, calculations and analysis then its your good luck. :P
lance
· 1 month ago
Wonderful roundup. Great content. I come from the school of you have to be able to measure marketing for it to be effective. And while measuring soft effects of social media are indeed meaningful and worthy, being able to measure the financial impact of the effort will become a requirement if large budgets are to be shifted into this realm
Josh Peters
· 1 month ago
ROI does not equal Impact. They are 2 completely different things. You don't measure impact by measuring ROI, they are NOT related.
ROI is a 100% financial metric, and is only used when the end result of what you're doing is to get people to buy something. Which is why it's often a metric used in marketing and sales, the end result of what they're doing is to get you to buy more.
If you're trying to do something like say increase the online sentiment of your company or product. Then what you're going to be doing is measuring impact. How much your efforts "moved the needles".
Social media is like the swiss army knife of online tools. It's a tool that is comprised of many other tools. Measuring your ROI has nothing to do with the tool it self, it's all about HOW you use it that will determine if ROI is even the right metric by which you measure your success.
SocialSteve
· 1 month ago
Great coverage on a hard, debated topic.
I make a strong argument that ROI is NOT a term that should be used with social media. It goes back to your accurate definition of ROI (x-y)/y where x = sales and y = investment.
1) Marketing is NOT sales - it increases the probability of sales by creating awareness and generating qualified leads. While this is still an endless debate in companies, marketing should not be measured on sales. A sales organization wins sales, but they require the support of marketing (and many other organization partners). 2) While not exactly correct, social media is seen as a marketing tool set. Yes, it is extremely useful for marketing, but used correctly, it is a strong tool for other organization groups. 3) But lets stick with social media = marketing for the argument of using ROI for social media ... once again marketing is not sales and therefore a social media marketing endeavor does not create sales, but increases the probability of sales. Thus I agree with your recommendations for baselining and suggested parameters to measure. 4) Thus you can "Mesaure the Value of Social Media", but not ROI (as suggested in the article at see http://bit.ly/hodQp.
Steve, I actually agree with many of your points -- and I had a little mini-crisis half-way through the first draft of this post over the nomenclature of all of this stuff. Ultimately, I played a little loose with what my accounting professors would have defined as ROI, but I hope that the information was still informative in measuring the value of social media (as you said).
Thanks for your comments!
SocialSteve
· 1 month ago
Christina,
I think you did a great job pulling together meaning information on a topic (ROI/value)that has been a challenge for marketing forever - not just social media. Thanks to you for your content!
Best, Social Steve
Ankit Mishra
· 1 month ago
You are right, we cannot use hardcore metrics to compare ROIs between, say, 2 campaigns.
Buzz Bishop
· 1 month ago
Social media ROI is easy to measure. You measure it one customer at a time.
Christina, Thanks for the great article. I have two questions. 1) The metrics you are discussing are mostly quantitative (number of tweets, mentions, traffic). Do you know of any company on the Internet that is engaged into that type of measurement, i.e. makes software that does that type of stuff on a larger scale? 2) The hard part of measuring social media is the intangible costs and benefits. Are there any methods to measure those?
Thanks!
Stuart Liedtke
· 1 month ago
With regards to snesareva's comment - I think that if you want to talk "broad" scales, its a mish-mash BUT, drilling through to the individual analyticfor a single company or individual takes a little set up, but is not that hard. i.e.:To build a custom widget that crosses the social networks with an embedded tracking ID such as I depict here http://img199.yfrog.com/i/6ax.jpg/ and some back up data on a metrics series I'm producing, here - http://bit.ly/1z6KHQ We're using Gigya as our platform of choice and implementing the wildfire technology for the actual metric, this, with our own unique flash objects authored in house. Exciting stuff when you think about something you could actually attach to KPI's because of even more powerful "event" firing/tracking.
SpeedDemonNews
· 1 month ago
Even owning a twenty dollar a month website like I do, with all the hard work I put into it does not justify my ROI. I could probably make more money clipping coupons and using them at the grocery store before I make any money online.
But, it is still fun to own my little piece of the internet and dream.
Big companies though are probably gonna take a good hard look at this and realize that even some of the biggest social media sites are more headache that worth it.
Look at Twitter and Youtube. If you are not selling your metric to marketers or not somehow else defining all the hits you get with marketing knowhow you are going nowhere.
Hit's without sales are OK if you can define trends and spikes etc that marketers can use to put ads on your desktop. If you have that going on then you might make it on having great Buzz alone - like Twitter or maybe Youtube.
kristicolvin
· 1 month ago
Olivier's presentation (in this Mashable article) simply rocks. Everyone gets it so fast, even though they didn't see the real speaking gig that went with the slides. You can check out more of his social media ROI information at http://smroi.net or at his blog, http://thebrandbuilder.wordpress.com
thesocialmediageek
· 1 month ago
I love the roundup of tools. However I am wary of the resurgance of ROI ;) With that said I thought it only fitting to post something from my many years of work:
wow - a lot more in depth than I was expecting! The truest of statements has to be "Twitter mentions is pretty meaningless if you don’t know if those mentions are positive or negative." definitely getting in there and seeing how people are reacting and subsequently how to respond is essential.
TimS
· 1 month ago
Sentiment analysis looks like an incredibly exciting tool. This sort of technology is bound revolutionise the way metrics are collected
Many companies aren't actively tracking and analyzing their efforts. But you better believe that the CEO is monitoring it by thinking, "is it bringing in more sales or is it a waste of money?"
Greg Satell
· 1 month ago
I'm with Social Steve on this. The problem comes in actually making the data usable. Social Media ROI is only practical if there isn't a lot of other activity going on.
Digital Media only makes up about 10% of media activity and Social Media is just a small part of that. While you can use Social Media tools to improve response, ROI for Social Media (or any specific activity in an integrated marketing campaign) just isn't realistic.
Great article on measuring ROI on social media. Been looking for this info for a long time.
marksysomos
· 1 month ago
Social media ROI is getting a lot of attention; in fact, it was a major topic of conversation at BlogWorld Expo. When it comes to providing metrics tools and sentiment analysis, Sysomos offers two services - Heartbeat (monitoring/measurement) and MAP (analytics) that focus on both areas. We think these are valuable tools as companies focus more on ROI.
Andy Stief
· 1 month ago
I think marketing in general, independent of social media marketing, has been and will continue to be a hard business element to measure. As Socialsteve said, marketing isn't sales. That said, I think there are a lot of logical points made throughout the article with respect to attempting to measure the ROI of social media campaigns. Its just one of those things where you would be hard pressed to deny the intangible benefits of creating more brand awareness, but at the same time you would be equally hard pressed to try and prove a conversion from intangible to tangible (sales) benefits. Great article, though, and good resource listings.
Santiago Merea
· 1 month ago
Christina, thanks for this great resource.
I have to say, social media can be overwhelming. I think that sometimes the problem is that there are so many services and 'aggregators', that it is hard to focus on a few and explore the possibilities to measure the ROI. Also, the fact that we need to juggle so many social media sites at the same time sometimes mean that we don't pay enough attention to them and end up, unintentionally, hurting the ROI potential.
At least that is my experience with my webpage (www.OnlineCouples.com). We have a twitter account, a facebook account, technorati, amazon, linkedin, and many other sites that, sincerely, I don't even know what falls into what category anymore.
Now, I think it is great to have all these possibilities out there. But it is very important to define goals and choose. A good strategy includes leaving things (or social media sites) behind - choosing.
Thoughts?
AlexisCeule
· 1 month ago
Awesome! I really appreciated the slideshow too.
Ricardo Serrano
· 1 month ago
Great presentation! Like the retro slides! Very useful information when talking to accountants and financial managers ($$$)
ecentric
· 1 month ago
Great topic and article. Remains to be a challenging subject to explain and demystify to most clients. I love where it's going though.
D
· 1 month ago
What are your thoughts on social media analytics and listening tools such as Networked Insights Social Sense platform (http://www.networkedinsights.com)?
Arnaldo Queiroz
· 1 month ago
Thats the best article about social media roi that i've ever read ,and i've doing a lot of research on social media you just have a new fan keep writing and success
terrisorenson
· 1 month ago
Thanks Christina for this great article and presentation. ROI can be used to measure the impact of social media. As Christina mentions, we must understand the tools for measurement and a clear definition of ones goals. As Marketing Coordination at Itracks (www.itracks.com), monitoring the impact of Social Media has been a challenge but with the right tools it has become a lot easier.
benphoster
· 1 month ago
I truly appreciate the attention this post is likely to raise. It's critical that businesses constantly be trying to answer this question. Great list-style summary of the possible metrics for those who haven't seen them before.
However...I would love to see more thoughts on getting to "R". 3 paragraphs (one of which was just a series of questions) didn't quite make the point. It's hard, you're right, and the example on sales you gave is a good one.
Is there any more follow up on non-sales type return measurements? Metrics are one thing, but results are another...
Dave Haber
· 1 month ago
Great post. Loved the presentation....very funny : )
Clearly defining measurable objectives is so key. I wrote about it at the link below, listing some standard types of objectives and simple ways to measure success.
I really like this presentation, it quite clearly makes the case for social media having a direct impact on sales figures but almost super-imposing your social media with improved business results, which unless the CEO believes in coincidence an awful lot, is good start.
I do believe that if sales and immediate financial gains are your main concern (which it is for 99%) of companies then this is a good way to look at things.
At our agency we also add another big component into this way of analysing though: Interaction. This is something that is very hard to measure but we have developed a points scoring system which will allow you to see how many people you 'speak' to for your dollar or pound. I guess this means that ROI can be measured in different ways or from different angles depending on what your initial aims were.
We always advise our clients that SMO should be used for stimulating conversation or interaction (which is hard to measure) everyone has their own ways of measuring, I guess one day we will all agree on one!
Loved the post except for the tie-in with ROI. I agree with Social Steve - you can measure the value of social media - or impact - (and even then not under all circumstances) but rarely ROI. I blogged about this subject last week: http://bit.ly/zgahp.
David Baxtin
· 1 month ago
Christina! Thank you so much. I love Viralheat our entire company has fallen head over heals for it. Thanks for your advice.
Nicole France
· 1 month ago
Great Presentation! Very creative! I am a huge fan of the analytics provided by HootSuite and TweetMeMe. I am looking forward to reviewing some of the other programs to see if they would be beneficial to my clients.
chrisfoster
· 1 month ago
What's all the fuss? SocialMedia ROI metrics do not matter....it's so 2009
hah! got ya...
Our GWave Augmented Hivemind indicator is indicating that our Conversational capital is earning 5% on the NASDAQ Social Futures market.
Captain, cue Fischerspooner and set course for planet Google
Florian Muff
· 1 month ago
Thanks a lot for that, just great.
Kim
· 1 month ago
Thank you for this awesome presentation. helped me understand more about how ROI works in context of Social media. loved the slideshow =)
Steve Andrews
· 1 month ago
Did you heart about WebTrends Analytics ?
Britt
· 1 month ago
Don't forget Collecta.com. Type in a keyword and receive a live feed of when the keyword is mentioned and on what platform that keyword is mentioned on. For example, you can put your company name in the search field and see a live feed of when and where your company name was mentioned.
social_smart
· 1 month ago
It is interesting that some of the large corporations like Dell and Best Buy don't seem to be worried about measuring ROI - see http://socialsmart.wordpress.com/2009/08/03/the.... They seem to see social media more as a customer service tool rather than a marketing tool. I guess it depends on what you are trying to achieve with your social media as to how important ROI is. Or is it just that the big boys don't need to worry so much about the costs involved? It is an interesting and ever evolving discussion. Some useful tool suggestion though.
rossjoyner
· 1 month ago
This is one of the best posts on ROI That I've read. More should use these tactics. You can always count on Mashable to deliver good content. http://personalbrandingnow.com
Lynn Epstein
· 1 month ago
Finally! Now to dive into the analysis. Thanks for the sources and ideas.
Senior
· 1 month ago
and how can you measure potential ROI on investments like Wikipedia.org or Lifelemon.com can be measured?
mike_mcgrail
· 1 month ago
This is awesome a great read!
mike_mcgrail
· 1 month ago
Guys I may be missing it and I know it's not very environmentally sound but do you not have printable versions of your blogs?
clippingimages
· 1 month ago
>Really helpful presentation for all the social media coinsultants
munaz
· 1 month ago
That is really good post. Keep up good work
neilkevin
· 1 month ago
This is really informative article. I love these tools . Hey i am passionate about social media sites. I truly believe that social media is playing very important role to society . Really cool article.
Many companies don't use Social Media because they think SM aren't measurable. For example see "Social Media Marketing and PR - Benchmark Guide", by Marketing Sherpa. Maybe after this great article someone wil chenge idea......
Lori Gama Gabriel
· 1 month ago
Great post, Christina! Measuring "Sentiment" is one of the most important things to do attention to as you build your Social Network. Here's another valuable "Sentiment" analytics tool: Peoplebrowsr's Analytics: http://analytics.peoplebrowsr.com/ My latest blog post shows sample screenshots so that you can see how powerful this tool is: Measure Your Sentiment With PeopleBrowsr Analytics http://is.gd/4IeQ8 Thanks! Lori
raverants
· 1 month ago
Great article! For someone just getting into sentiment analysis, RaveRants might be worth considering as a starter tool, since it's free. http://raverants.com/ (Sorry for the shameless plug!)
Jayne85
· 1 month ago
Check out this cool photo tagging software called Fotobounce! It can help you sort your images using face recognition! It can also download & tag your photos from facebook & flickr! You can get it for free at: http://fotobounce.com/index.php?blog
mytweetmark
· 1 month ago
Great article. ROI should be measured in various ways. Nowadays, in traditional social networks, you could measure ROI not only by amount of registrations but also by amount of content. Measure the increase/decrease with revenue.
Deeper even than monitoring a blog or site with the tools listed, are the analytic derived from using Widgets as a real time gauge of activity. Of course, this is in addition to the great tools you report on here and not intended to replace any, just enhance.
For instance, with the proper AS3 code installed, we track our #Gigya Wildfire wrapped flash objects across over 70 social and bookmarking sites. The widgets drive incredible amounts of traffic to blogs and sites when deployed correctly. All you have to do after coding and deployment is have 3 windows open. Tweetdeck is good, the Gigya real time reporting window and your site stats tool.
As you tweet or drop a link into Facebook or elsewhere, you see the metrics evolve minute by minute. Most social experts/marketers are just starting to see this powerful set of tools because us developers spent this year getting our head around how it could be rapidly deployed by non technical staff. We are there now.
Gigya overtook the market this year with excess of 30M views per month. At 12flat (our developer site) and DMS Communications we strongly sense the need for "Social Marketers" to start using this technology and it's inherent (analytic) punch. Companies marketing departments need assignments for staff to spend a few hours per day on the network itself, or to outsource the conversations to an available expert.
There should by now be a standardized set of KPIs (Key Performance Indicators) for determining the impact/ROI of advertising (or whatever you want to call it) on Social Media. It's not only about where people are spending their attention these days, it is about how and what they doing when they are there, that needs to be quantified, relative to impact on sales and brand value. Like, Repeat Visits, Shared Video, Emailed Friend - how much does each of these build attention and reinforce messages, compared to a basic ad impression? From what I have read so far of all the comments, there seems to be a distinct lack of consensus about KPIs. I hope your "What Do You Think?" invitation to comment leads to Mashable crowdsourcing some kind of standard set of metric tools. I have had a go at doing this for mobile ads - see "Mobile Analytics for Monkeys" on www.riverphonic.com. Early days yet, but necessary steps. If media investors can't figure out their ROI, they are less likely to spend the money. Best regards, Tim
Simon
· 1 month ago
In the keynote of Avinash Kaushik, there`s also a lot of useful insight about analytics and new tools already out there :)
The issue of ROI must be first and foremost be tied to the financial bottom line this will force social media companies to be accountable and maybe we will start seeing some profitable companies.
cbemerine
· 4 weeks ago
What no mention of A/B testing? Interesting article none the less.
Dave
· 3 weeks ago
I'm just amazed at how many different tools there are to measure social engagement. I wonder when will GA integrate social media tracking...
Julia G
· 3 weeks ago
This article is extremely helpful - I appreciate that you compiled this data into a concise presentation. Thanks!
navahhochstein
· 2 weeks ago
Really, Really cool presentation
Sheryl Lindsell-Roberts
· 2 weeks ago
Christina, Great article! May I use your section "Define Clear Goals" in my new book "Communicating in the 21st Century Workplace," which will be published by Houghton Mifflin. If so, please check me out on www.sherylwrites.com which has my contact information.
Steve Redden
· 2 weeks ago
Great article.
I agree that there are definitely two metrics when measuring your social media marketing activities. The first is online reputation tracking and how your business/products are perceived online and the other is ROI.
Unfortunately, most budget holders want to measure dollar spent/dollar gained and that's a reality of running a business.
We set out to meet this requirement and have built a web-based ROI tool called smtrac (http://smtrac.com), which enables you to centralise the management and reporting of your marketing activities over social media applications, websites, email campaigns, blogs and even printed collateral.
All Comments
What isn't accounted for in the ROI discussion is the reputational impact -- much public relations activity is not in direct service to selling; it's not analogous to advertising (which is how we all got in trouble using AVE as a success measure.)
Marketing using social media is one thing -- PR using social media is another. You can quantify impact on relationships among your constituencies, but that's often a costly metric to develop. Sentiment analysis, as with mainstream media, is a descriptive metric of output, not outcome. There are few reliable metrics of quantity in social media (impressions or cost per impression don't really work), so we're left looking for implications: if the comment stream is positive, involves an audience we care about, is in targeted social media (bloggers, mainly), and reflects the diversity of our messaging, we can claim a modicum of success.
That's not going to satisfy the high-forehead types that want to see financial impact statements. But from a reputation management perspective, we can do research that places social media into the proper context among the other inputs to positive reputation.
It's an issue that so much of social media is individual to individual -- our systems of determining value don't apply too well in that space. But it's evident that we need to apply social media as a part of our reputation mix, depending on the objectives and organization.
I'm glad Mashable has this article and I feel this will be yet more evidence that businesses should be getting involved in Social Media as well as the world of advertising will be going through some serious changes and adaptations.
Kudos to Christina Great Article!
Mentioned here: http://www.honeytechblog.com/top-10-social-medi...
Yeah, "Without an Analytics we can't predict about ROI" and even if you the ROI without goals, calculations and analysis then its your good luck. :P
ROI is a 100% financial metric, and is only used when the end result of what you're doing is to get people to buy something. Which is why it's often a metric used in marketing and sales, the end result of what they're doing is to get you to buy more.
If you're trying to do something like say increase the online sentiment of your company or product. Then what you're going to be doing is measuring impact. How much your efforts "moved the needles".
Social media is like the swiss army knife of online tools. It's a tool that is comprised of many other tools. Measuring your ROI has nothing to do with the tool it self, it's all about HOW you use it that will determine if ROI is even the right metric by which you measure your success.
I make a strong argument that ROI is NOT a term that should be used with social media. It goes back to your accurate definition of ROI (x-y)/y where x = sales and y = investment.
1) Marketing is NOT sales - it increases the probability of sales by creating awareness and generating qualified leads. While this is still an endless debate in companies, marketing should not be measured on sales. A sales organization wins sales, but they require the support of marketing (and many other organization partners).
2) While not exactly correct, social media is seen as a marketing tool set. Yes, it is extremely useful for marketing, but used correctly, it is a strong tool for other organization groups.
3) But lets stick with social media = marketing for the argument of using ROI for social media ... once again marketing is not sales and therefore a social media marketing endeavor does not create sales, but increases the probability of sales. Thus I agree with your recommendations for baselining and suggested parameters to measure.
4) Thus you can "Mesaure the Value of Social Media", but not ROI (as suggested in the article at see http://bit.ly/hodQp.
All in all, great coverage.
Thanks,
Social Steve
http://socialsteve.wordpress.com
I actually agree with many of your points -- and I had a little mini-crisis half-way through the first draft of this post over the nomenclature of all of this stuff. Ultimately, I played a little loose with what my accounting professors would have defined as ROI, but I hope that the information was still informative in measuring the value of social media (as you said).
Thanks for your comments!
I think you did a great job pulling together meaning information on a topic (ROI/value)that has been a challenge for marketing forever - not just social media. Thanks to you for your content!
Best,
Social Steve
http://www.cyberbuzz.com/2009/11/05/times-squar...
Thanks for the great article. I have two questions.
1) The metrics you are discussing are mostly quantitative (number of tweets, mentions, traffic). Do you know of any company on the Internet that is engaged into that type of measurement, i.e. makes software that does that type of stuff on a larger scale?
2) The hard part of measuring social media is the intangible costs and benefits. Are there any methods to measure those?
Thanks!
But, it is still fun to own my little piece of the internet and dream.
Big companies though are probably gonna take a good hard look at this and realize that even some of the biggest social media sites are more headache that worth it.
Look at Twitter and Youtube. If you are not selling your metric to marketers or not somehow else defining all the hits you get with marketing knowhow you are going nowhere.
Hit's without sales are OK if you can define trends and spikes etc that marketers can use to put ads on your desktop. If you have that going on then you might make it on having great Buzz alone - like Twitter or maybe Youtube.
http://ow.ly/wRpU
Tim
http://marketing-made-simple.com
Digital Media only makes up about 10% of media activity and Social Media is just a small part of that. While you can use Social Media tools to improve response, ROI for Social Media (or any specific activity in an integrated marketing campaign) just isn't realistic.
I wrote an article on this. See here: http://www.digitaltonto.com/2009/quest-for-digi...
- Greg
I have to say, social media can be overwhelming. I think that sometimes the problem is that there are so many services and 'aggregators', that it is hard to focus on a few and explore the possibilities to measure the ROI. Also, the fact that we need to juggle so many social media sites at the same time sometimes mean that we don't pay enough attention to them and end up, unintentionally, hurting the ROI potential.
At least that is my experience with my webpage (www.OnlineCouples.com). We have a twitter account, a facebook account, technorati, amazon, linkedin, and many other sites that, sincerely, I don't even know what falls into what category anymore.
Now, I think it is great to have all these possibilities out there. But it is very important to define goals and choose. A good strategy includes leaving things (or social media sites) behind - choosing.
Thoughts?
However...I would love to see more thoughts on getting to "R". 3 paragraphs (one of which was just a series of questions) didn't quite make the point. It's hard, you're right, and the example on sales you gave is a good one.
Is there any more follow up on non-sales type return measurements? Metrics are one thing, but results are another...
Clearly defining measurable objectives is so key. I wrote about it at the link below, listing some standard types of objectives and simple ways to measure success.
Measuring Social Media Success? Fail.
http://www.davehaber.ca/interactive-objectives-...
Cheers,
Dave Haber
http://www.davehaber.ca
http://www.redshiftagency.com/
I do believe that if sales and immediate financial gains are your main concern (which it is for 99%) of companies then this is a good way to look at things.
At our agency we also add another big component into this way of analysing though: Interaction. This is something that is very hard to measure but we have developed a points scoring system which will allow you to see how many people you 'speak' to for your dollar or pound. I guess this means that ROI can be measured in different ways or from different angles depending on what your initial aims were.
We always advise our clients that SMO should be used for stimulating conversation or interaction (which is hard to measure) everyone has their own ways of measuring, I guess one day we will all agree on one!
Great article and idea here!!
www.hebemedia.com
hah! got ya...
Our GWave Augmented Hivemind indicator is indicating that our Conversational capital is earning 5% on the NASDAQ Social Futures market.
Captain, cue Fischerspooner and set course for planet Google
Keep up good work
gifts for men
Maybe after this great article someone wil chenge idea......
My latest blog post shows sample screenshots so that you can see how powerful this tool is: Measure Your Sentiment With PeopleBrowsr Analytics http://is.gd/4IeQ8
Thanks!
Lori
Cheers,
www.mytweetmark.com
For instance, with the proper AS3 code installed, we track our #Gigya Wildfire wrapped flash objects across over 70 social and bookmarking sites. The widgets drive incredible amounts of traffic to blogs and sites when deployed correctly. All you have to do after coding and deployment is have 3 windows open. Tweetdeck is good, the Gigya real time reporting window and your site stats tool.
As you tweet or drop a link into Facebook or elsewhere, you see the metrics evolve minute by minute. Most social experts/marketers are just starting to see this powerful set of tools because us developers spent this year getting our head around how it could be rapidly deployed by non technical staff. We are there now.
Gigya overtook the market this year with excess of 30M views per month. At 12flat (our developer site) and DMS Communications we strongly sense the need for "Social Marketers" to start using this technology and it's inherent (analytic) punch. Companies marketing departments need assignments for staff to spend a few hours per day on the network itself, or to outsource the conversations to an available expert.
I thoroughly enjoyed this post. Well done.
Thank you
http://BharatClick.com
i hava some media part here http://www.top-battery.com.au/
From what I have read so far of all the comments, there seems to be a distinct lack of consensus about KPIs. I hope your "What Do You Think?" invitation to comment leads to Mashable crowdsourcing some kind of standard set of metric tools. I have had a go at doing this for mobile ads - see "Mobile Analytics for Monkeys" on www.riverphonic.com. Early days yet, but necessary steps. If media investors can't figure out their ROI, they are less likely to spend the money. Best regards, Tim
http://www.clicktrue.biz/blog/web-analytics-con...
I agree that there are definitely two metrics when measuring your social media marketing activities. The first is online reputation tracking and how your business/products are perceived online and the other is ROI.
Unfortunately, most budget holders want to measure dollar spent/dollar gained and that's a reality of running a business.
We set out to meet this requirement and have built a web-based ROI tool called smtrac (http://smtrac.com), which enables you to centralise the management and reporting of your marketing activities over social media applications, websites, email campaigns, blogs and even printed collateral.