Social Media ROI – What is it?
There has been a lot of talk lately about the ROI of Social Media. Not only what it is, also on how to measure it. I think this is where the problem lies. Can we really measure the ROI on Social Media?
Apps have come along like Klout, Sprout Social and some others. They measure your influence on your social media connections. It gives you a score and highlights the topics you are influential over. This gives you a base number which is nice for a measurement. A way to track progress, however I still wonder about this system of trying to tie in the ROI on social media. I mean really it is something that is just hard to measure.
A Real world example, is I was at my son’s baseball game and was talking to one of other dad’s next thing we knew I offered a service his company needed. Sale made, now do I go and track the ROI on taking my son to baseball? No it was social connection…
My point is this, let’s remember it is social and that being said you do not know where or how the connections are going to work and how that is going to give you ROI. I think businesses have to remember the growth in Social Media is because the end-user has control of what they react too and convert on. The idea of applying the methodology of ROI like it was some sort of traditional marketing is the wrong approach.
The ROI comes from creating a community around your business and supporting that community. Invest in the Process and you will be rewarded, will you be able to measure it accurately, I doubt it, but that does not mean you should stop.
What do you think – Should we measure ROI on social media?
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