Achieving (and Proving) ROI in Social Media

Seven great tips from eMarketer’s free report on achieving ROI in Social Media marketing.

  1. Establish clear marketing goals for your product or brand, and then identify social measurements that directly support those objectives.
  2. Organize your measurements and metrics in a logical framework.
  3. Take a long-term outlook with social media interactions and measurements. It’s a commitment, not a campaign.
  4. If hard ROI metrics are difficult to track directly, consider a range of softer metrics that can be linked back to desired business outcomes.
  5. Determine a dollar value for customers who choose to opt in and engage with your brand via social networks. (see below)
  6. In your ROI calculations, don’t overlook the value of cost savings that can result from ongoing social listening and tracking.
  7. Build the technological capabilities to measure your customers’ complete digital footprint—in real time.

via eMarketer (free registration and download required).

re: #5 – great slide from Charlene Li on figuring out that lifetime value:

Charlene Li Lifetime Value

Interestingly enough, I’ll be presenting on social media metrics at the Acuity Forums “Delivering Social Media” conference on November 17/18. Register here.

One Response to Achieving (and Proving) ROI in Social Media

  1. Mike Klein says:

    Typo in ‘Achieving’…

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