March 7, 2012

By: 
Rachel Strella

Defining Social Media ROI

Earlier in the week, we talked about the complexity of measuring social media ROI. Today, it’s time to look at some insight from respected social media colleagues. Below are some of the best ROI ‘explanations’ I’ve seen.

Be sure to check out our final bog of this series, which will be posted in a few days.

Integration Is Key

Heidi Cohen

Excerpt from Does Your Social Media Generate Sales

“…have clear business goals and develop appropriate metrics to determine whether you’ve achieved those objectives so you can measure your social media marketing effectiveness. By itself, this isn’t sufficient to yield measurable results. You must ensure that the ability to track and calculate these metrics is integrated into your marketing and your systems. To this end, you need a contextually relevant call-to-action and a unique, trackable promotion code that leads to a microsite, targeted landing page, QR code, mobile app or phone number where your streamlined purchase process can reel prospects in and convert them into customers or at least to warm leads.”

Connecting Online and Offline

Angela Brown

Excerpt from Social Media in CRE No Longer Just for Socializing

“…there is a misperception out there that social media is a magic want that is meant to replace traditional relationships. It doesn’t work that way. It should be seen as an inroad to establishing new online relationships and as a bridge to building offline relationships.

Put the Human Back in Human Nature

Monique O'Reilly

Monique O’Reilly

Interview, February 2012

“We are social creatures by nature, and therefore the ROI on social media means being connected to like-minded people who enjoy keeping in touch and learning about each other – period! We may not always help each other directly, and the exchange may be measured in different currencies, but building positive long-term relationships means putting the human back in human nature.”

 

Remember your Goals and Objectives

Jo Saunders

Jo Saunders

Interview, February 2012

“Each case is unique and relates to your objectives. Is it really about the number of Likes? All that means is that they are opting into hearing your news. For me, the importance is in building strong relationships and engaging your network. Clicking the “like” button is the LIKE, the engagement is the KNOW, and that leads to TRUST. Once trust is established, your objectives will eventually be met – whether it be product sales, workshop sales, speaking requests, expertise requests and opportunities. It is important to have a strategy and plan to increase your social Media ROI. For me, building relationships on Facebook is key and the opportunities that come from that are my ROI.”

What’s your take on social media ROI?

 

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