Measuring Social Media ROI - It's Not A Web 2.0 Myth

Yardsticks

Not long ago, I declared that I'm f*cking sick of the "ROI of social media" debate. The post got some attention, including a follow-up on ReadWriteWeb.

Good. It's a conversation that needs to happen.

But in past posts, I neglected two topics:

  1. A history of media metrics, thereby illuminating how much has changed and how important this is
  2. The role of agencies as guides through a web 2.0 world

Today, I rectify that with a guest post on Critical Mass' Experience Matters blog entitled Why Your Social Media ROI Is Broken– And How To Fix It. (Disclosure: I am employed by Critical Mass.)

Who Should Read This And Why

If you work in or with an agency, I recommend this post. It describes an agency's changing responsibilities to their clients - how to help clients understand social media and find success with their web 2.0 ventures.

Most importantly, I hope it gives you courage to face this moving target. Here's a description of the changing marketing world from my guest post:

We are moving from a period of raw quantitative measurement (i.e. How many unique visitors did we have?) to a qualitative period (i.e. Did our social media engagement create more trust which in turn created more sales?). Trust, loyalty, and brand advocacy aren’t intangible anymore.

Is your agency at least aware of these changes? How have they advised you regarding social media metrics?

Trash Your Crappy Web Metrics And Grow A Pair

This is not the time for timid marketers. If you aren't ready to try new things and risk your neck everyday, please allow the rest of us to move past you.

Let me put it to you straight: web analysis allows you to determine the real ROI which, in turn, allows you to see what tactics are working and which aren't.

Not the tactics that your boss likes or that tested well in focus groups - the tactics that really work.

Personally, I recommend facing these new challenges head on. It's tough, but how else will you know if you are really reaching your goals?

What About You?

I would love to hear from you on this topic. Do you measure your social media outreach? If not, what is holding you back? If you do measure social media, what are the elements that you measure? Are these personalized to your goals?

In short, how's it going out there?

Please check out Why Your Social Media ROI Is Broken– And How To Fix It and leave a comment there or here (comment section below). I look forward to hearing from you.

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(Image courtesy of Charlyn W via Flickr)