Comments on: Why Measure ROI Of Social Media? http://regulargeek.com/2009/08/27/why-measure-roi-of-social-media/ Where programming, the internet and social media collide. Mon, 15 Mar 2010 13:33:13 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: ROI on social media « Dr Amanda Olsson http://regulargeek.com/2009/08/27/why-measure-roi-of-social-media/comment-page-1/#comment-3108 ROI on social media « Dr Amanda Olsson Fri, 30 Oct 2009 05:20:08 +0000 http://regulargeek.com/?p=890#comment-3108 [...] Why measure ROI? Possibly related posts: (automatically generated)What the F*** is social media?The ten commandments according to social mediaSocial media rapMaximizing the Return on Investment (ROI) of Social Media and Web 2.0 for E… [...] [...] Why measure ROI? Possibly related posts: (automatically generated)What the F*** is social media?The ten commandments according to social mediaSocial media rapMaximizing the Return on Investment (ROI) of Social Media and Web 2.0 for E… [...]

]]> By: Five reasons corporations are failing at social media | Dodging Spiderwebs http://regulargeek.com/2009/08/27/why-measure-roi-of-social-media/comment-page-1/#comment-3008 Five reasons corporations are failing at social media | Dodging Spiderwebs Mon, 12 Oct 2009 14:51:14 +0000 http://regulargeek.com/?p=890#comment-3008 [...] Why Measure ROI Of Social Media? (regulargeek.com) [...] [...] Why Measure ROI Of Social Media? (regulargeek.com) [...]

]]> By: Looking at Valeria Maltoni writings for the Inbound Marketing Summit 2009 « Fredzimny's Blog http://regulargeek.com/2009/08/27/why-measure-roi-of-social-media/comment-page-1/#comment-3004 Looking at Valeria Maltoni writings for the Inbound Marketing Summit 2009 « Fredzimny's Blog Fri, 09 Oct 2009 18:04:27 +0000 http://regulargeek.com/?p=890#comment-3004 [...] Why Measure ROI Of Social Media? (regulargeek.com) [...] [...] Why Measure ROI Of Social Media? (regulargeek.com) [...]

]]> By: Guy Powell http://regulargeek.com/2009/08/27/why-measure-roi-of-social-media/comment-page-1/#comment-2834 Guy Powell Thu, 03 Sep 2009 13:42:38 +0000 http://regulargeek.com/?p=890#comment-2834 It's very interesting to read these discussions about ROI when it comes to social media. They are very similar to the discussions from 10 years ago when it was also 'impossible' to measure ROI from a website. Now Internet ROI is measured everyday and generally very accurately. ROI needs to be thought of as a tool to not necessarily get approval, but as a method to do better. We may not know how much incremental revenue social media marketing is going to deliver, but we know that it is worth the risk. Companies that have never done TV advertising before, set up their first spots so they can test to see if they worked. If they do, they invest more. If they don't they tweak their plan to make it work. We need to think of social media in the same way. 1) Take the risk and take the plunge 2) Measure results to see where we can improve 3) Determine whether it's making a difference and keep measuring. No one disagrees with the fact that social media is the place to be and that it will be a major place to be for a very long time. Our company has been measuring the impact of social communities for a few years now. It isn't that hard. You just need to want to do it and have the measurement know-how. Please reach out to me on twitter at @GuyPowell or go to my book site at http://www.marketing-calculator.com It’s very interesting to read these discussions about ROI when it comes to social media. They are very similar to the discussions from 10 years ago when it was also ‘impossible’ to measure ROI from a website. Now Internet ROI is measured everyday and generally very accurately. ROI needs to be thought of as a tool to not necessarily get approval, but as a method to do better. We may not know how much incremental revenue social media marketing is going to deliver, but we know that it is worth the risk.

Companies that have never done TV advertising before, set up their first spots so they can test to see if they worked. If they do, they invest more. If they don’t they tweak their plan to make it work. We need to think of social media in the same way.

1) Take the risk and take the plunge
2) Measure results to see where we can improve
3) Determine whether it’s making a difference and keep measuring.

No one disagrees with the fact that social media is the place to be and that it will be a major place to be for a very long time.

Our company has been measuring the impact of social communities for a few years now. It isn’t that hard. You just need to want to do it and have the measurement know-how. Please reach out to me on twitter at @GuyPowell or go to my book site at http://www.marketing-calculator.com

]]> By: How social media monitoring can help you understand your customers better. | The Social Enthusiast http://regulargeek.com/2009/08/27/why-measure-roi-of-social-media/comment-page-1/#comment-2815 How social media monitoring can help you understand your customers better. | The Social Enthusiast Mon, 31 Aug 2009 20:15:23 +0000 http://regulargeek.com/?p=890#comment-2815 [...] on the web right now.  You can see some examples of just how controversial it is here, here, here and here.  Hat tip to Chuck Fitzpatric of ImpactWatch blog for those examples [...] [...] on the web right now.  You can see some examples of just how controversial it is here, here, here and here.  Hat tip to Chuck Fitzpatric of ImpactWatch blog for those examples [...]

]]> By: links for 2009-08-28 « GHBrett’s General Store http://regulargeek.com/2009/08/27/why-measure-roi-of-social-media/comment-page-1/#comment-2800 links for 2009-08-28 « GHBrett’s General Store Fri, 28 Aug 2009 23:11:26 +0000 http://regulargeek.com/?p=890#comment-2800 [...] Why Measure ROI Of Social Media? | Regular Geek For many companies, social media is supposed to use the same ideas. If a company has someone dedicated to social media, like a community manager, they want to see their revenue change because of these efforts. As many people state, this is generally the wrong thing to do, but it continues to be talked about. I think the continuing discussion has to do with the initial assumptions about social media. If you start with the assumption that social media is purely marketing and advertising, then you are starting with the wrong assumptions. (tags: socialmedia roi i2comm) Posted by George Misc Subscribe to RSS feed [...] [...] Why Measure ROI Of Social Media? | Regular Geek For many companies, social media is supposed to use the same ideas. If a company has someone dedicated to social media, like a community manager, they want to see their revenue change because of these efforts. As many people state, this is generally the wrong thing to do, but it continues to be talked about. I think the continuing discussion has to do with the initial assumptions about social media. If you start with the assumption that social media is purely marketing and advertising, then you are starting with the wrong assumptions. (tags: socialmedia roi i2comm) Posted by George Misc Subscribe to RSS feed [...]

]]> By: Twitter Trackbacks for Why Measure ROI Of Social Media? | Regular Geek [regulargeek.com] on Topsy.com http://regulargeek.com/2009/08/27/why-measure-roi-of-social-media/comment-page-1/#comment-2799 Twitter Trackbacks for Why Measure ROI Of Social Media? | Regular Geek [regulargeek.com] on Topsy.com Fri, 28 Aug 2009 19:43:01 +0000 http://regulargeek.com/?p=890#comment-2799 [...] link is being shared on Twitter right now. @primoassistance, an influential author, said Why Measure ROI [...] [...] link is being shared on Twitter right now. @primoassistance, an influential author, said Why Measure ROI [...]

]]> By: DogWalkBlog http://regulargeek.com/2009/08/27/why-measure-roi-of-social-media/comment-page-1/#comment-2798 DogWalkBlog Fri, 28 Aug 2009 19:30:45 +0000 http://regulargeek.com/?p=890#comment-2798 Customer service has an ROI, even if nobody calculates it. At some point, you can provide more customer service than is necessary to retain customers. So too with social media. The trick is to invest enough, but not too much. Amazon.com provides almost no customer service because they don't have to. Their investment is the operational systems that make sure every order is processed perfectly. Rare do I have to call them as I place an order and that order just comes. They don't call me to verify I received it, I liked it, etc. I don't want them to; I want them to be there when I want to buy something. Same with training. Same with communications systems. Same with..... Customer service has an ROI, even if nobody calculates it. At some point, you can provide more customer service than is necessary to retain customers. So too with social media. The trick is to invest enough, but not too much.

Amazon.com provides almost no customer service because they don’t have to. Their investment is the operational systems that make sure every order is processed perfectly. Rare do I have to call them as I place an order and that order just comes. They don’t call me to verify I received it, I liked it, etc. I don’t want them to; I want them to be there when I want to buy something.

Same with training. Same with communications systems. Same with…..

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