Comments on: Should We Even Consider ROI in Social Media?

By: Social Media and ROI | JeremyAWilliams.com

Social Media and ROI | JeremyAWilliams.com — Wed, 28 Oct 2009 15:07:33 +0000

[...] development. Hands down one of the best tools you could use to further your name in a community.Kyle Lacy, Social Media – Indianapolis, Jan [...]

By: New Comm Biz » What’s your social media distribution plan?

New Comm Biz » What’s your social media distribution plan? — Sun, 05 Jul 2009 23:32:47 +0000

[...] Should We Even Consider ROI in Social Media? [...]

By: FreshNetworks Blog » Blog Archive » Social Media ROI: Measuring the unmeasurable?

Sun, 22 Mar 2009 22:06:39 +0000

[...] Should We Even Consider ROI in Social Media? (kylelacy.com) [...]

By: Chris Baggott

Chris Baggott — Fri, 16 Jan 2009 21:54:34 +0000

Thank you for the mention Kyle. One thing to keep in mind that these are not mutually exclusive strategies right?

Just because one is using social media and measuring traffic increases, click through rated or conversions for ROI doesn’t mean that they are not also getting all of the softer benefits of brand that you are describing.

One of the things I love about measuring traffic increases from organic search is that I know that my branding efforts are growing too. In Q4 we doubled the number of blogs in our system and quintupled our traffic. That’s 5 times the number of people who had a positive impression of our company.

Thanks again for a thought provoking post.

By: Social Media and ROI « Tourism Tech Corner

Social Media and ROI « Tourism Tech Corner — Fri, 16 Jan 2009 18:38:10 +0000

[...] development. Hands down one of the best tools you could use to further your name in a community.Kyle Lacy, Social Media – Indianapolis, Jan [...]

By: Jeremy Williams

Jeremy Williams — Fri, 16 Jan 2009 14:59:28 +0000

Great post Kyle. I think you hit the nail on the head with this one. Tracking ROI is very important, especially in the current economic climate. But, just like brand awareness adds on TV, Radio or in Print, tracking a specific ROI for some forms of social media isn’t always easy. If your organization’s main goal is to track ROI of every project, you might not see the dollar for dollar return on some forms of social media.

By: Jeff Bennett

Jeff Bennett — Fri, 16 Jan 2009 13:36:38 +0000

I believe there are several types of campaigns that brands can run/develop on social media. Surely it is hard to measure roi on brand…but I believe that brand should only be one component. Social media sites can be very targeted online focus groups to listen, converse and engage prospects or customers. Social media sites can also be highly targeted places to seek “trial” use of products and services. Social media sites can also be an invaluable feedback loop over a customer lifetime. Social media sites can also serve as an effective vehicle to track/understand how consumers use competitive products. This is the hope of Facebook and Twitter. This is the reality on targeted social media sites like Photo.Net, DavesGarden.com, Craftster.Org and how we work with brands. In these cases branding is one component and ROI is much more easily measured. It is very powerful and it is very cool.

By: Jeff Bennett

Jeff Bennett — Fri, 16 Jan 2009 13:35:27 +0000

By: Craig

Craig — Fri, 16 Jan 2009 12:55:16 +0000

I think ROI is measured differently depending on what side of the table you are sitting on. Those who funded Twitter, LinkedIN, Facebook, etc. need ROI based on dollars coming in. They put real dollars in to create social media, and they need, and deserve, real money coming out. If you are a marketing person, then ROI comes from brand, website traffic (anyone remember website traffic as an ROI in 1998…look what happened when there was no business model attached), then social media can provide the necessary ROI. If you are in sales and advertising, click-thru’s, sales per click, etc. matter when you are measuring ROI.
Ultimately ROI, ROE always matter in any investment…it just depends on who’s looking at the numbers to find out whether or not social media provides adequate ROI for the investment made.

By: Joe Spencer

Joe Spencer — Fri, 16 Jan 2009 12:19:46 +0000

I track ROI on SMO, SEO, SEM, PR and other branding related activities. All business strategies should be trackable & measurable to show results. These results provide key information for business decisions. This is not impossible or unrealistic for any business.