Enough With Social Media ROI, Already // davefleet.com [link to post] (AMEN, @davefleet!)

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In B2C, it’s either used for branding and is measured in terms of exposure. Or it’s used to drive traffic to marketing programs, like a coupon offering, which is measured in terms of conversion. Or it drives traffic to an ecommerce site where it’s measured in terms of sales.

The hard part is getting the tracking all set up. You need analytics software to connect to market automation software with both dumping data into a CRM. While it’s conceptually easy, integration is time intensive and expensive, which makes it inaccessible to most people using social media.

How many people are using a set up like Webtrends Analytics integrated with Eloqua, Radian6, and Salesforce? Probably not many. That is why people are struggling with how to prove ROI. We simply lack the integrated systems that do it, which is mostly a resourcing issue.

Regardless, from a marketing perspective social media offers additional channels and should be measured in comparison to the other channels, like email and advertising, to know how much budget to allocate to it.

Marketing isn’t the only thing you can do with social media, though. You can also use it to administer support. In which case you measure value in terms of reduction in phone calls, number of cases closed per person compared to other channels, and other traditional support and call center KPIs.

HR has it’s own KPIs. So does Product. So does IT…etc.

ROI of SM, (gain from invest – cost of invest ) cost of invest. [link to post]

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