More on Measuring Social Media ROI
I came across this amusing presentation on Slideshare on measuring the ROI of social media. It seems that everyone has something to say about this topic, including me here, here and here, but this one is very unique… and fun to watch.
It’s point is that you cannot measure the ROI of social media by just looking at social media data. The impact social media can make on a business can be significant, but it is non-financial. One of the classic comebacks in the social media ROI debate several years ago was “how you measure the ROI of putting on your pants?” (The funny thing is that this golden oldie surfaced again in an AdAge article just last week so I guess it’s getting a second wind.) The idea is that interaction with prospects in social media… and putting on your pants… are all critically important to the outcomes you achieve in your day, but you cannot arrive at an ROI by analyzing that activity alone. They are important precursors to the business transaction where the financial impact of the transaction occurs. This is the only point where ROI can be measured.