Comments on: Want to Figure Out Your Social Media ROI? Consider a Plan.

By: Kids Games

Kids Games — Mon, 31 Aug 2009 22:52:02 +0000

It was only a matter of time before advertisers/marketers realized the potential of social media. I, of course, wish these sites could be saved for individuals rather than corporations. Alas, nothing is sacred, especially on the world wide web.

By: Luke

Luke — Tue, 30 Jun 2009 04:38:35 +0000

thanks for this.
for the better of the communication.

By: Brown110

Brown110 — Sat, 23 May 2009 07:13:55 +0000

the “T” in SMART gets very important here. As, the impact of Social Media is instant, but because of the inherent viral nature of SM, the wave continues to bring results for your company. Interesting topic — many thoughts. There is still no right or wrong aspect and we are not yet close. It calls for brainstorming sessions
Physical Condition

By: club penguin

club penguin — Wed, 20 May 2009 05:35:22 +0000

To think that a new form of media for a company would act like an old form of media is ludicrous. Different media warrants different usage just as different people necessitate different ways of interaction. Tailoring your message to specific people using specific media is an artform not a science. As soon as we realize that there is an ebb and flow to communicating with customers we will all be the better.

By: Amita

Amita — Tue, 24 Mar 2009 23:14:14 +0000

Beth – I had read this when it was first published. What is more interesting is that the fuzziness in social media ROI is still unresolved. So, when I again landed on your post, I thought of adding my note.
One aspect that we often ignore while calculating the ROI is the impact of SM on brand equity. In case of SM, the influencers have immense role to play in lifting the face of your brand. And this should be attributed to while calculating the ROI. One more thing – the “T” in SMART gets very important here. As, the impact of Social Media is instant, but because of the inherent viral nature of SM, the wave continues to bring results for your company. Interesting topic — many thoughts. There is still no right or wrong aspect and we are not yet close. It calls for brainstorming sessions …

By: Axel Schultze

Axel Schultze — Sat, 28 Feb 2009 06:11:11 +0000

The Social Media Academy developed a way to calculate ROI on social media. http://www.socialmediatoday.com/SMC/77179 We are now all interested in a broad response and feedback. Let us know what you think. Thanks a lot.

By: Sesso

Sesso — Sat, 24 Jan 2009 22:59:55 +0000

Great site.

By: Michael Hafner

Michael Hafner — Fri, 23 Jan 2009 14:52:22 +0000

…but why should “social” be so much different?
We have written pricelists for adviews, big businesses are built on the fact that we consider it as valuable that people are watching TV-commercials. We don’t even know if they are watching the commercials or if they are ironing, eating or sleeping – what TV advertisers are actually paying for, is the mere fact that a TV is running somewhere.
On the other hand: why should we?

By: Todd

Todd — Mon, 22 Dec 2008 15:17:49 +0000

Overall tone of post and comments seems to be making thing harder than they really are.
Zappos has pretty much gotten it right with their “Experience Syndication” and Zappos Insights. ROI on Social Media is a matter of companies customizing Zappos’ approach to their own bsiness rules/budgets
http://www.zapposinsights.com
Note to PR and Marketing people, be careful what you wish for – Being able to measure ROI means your customers have quantifiable proof you are not providing value for their money/

By: Beth Harte

Beth Harte — Mon, 01 Dec 2008 23:12:49 +0000

@JessicaHunter, thanks! It’s just a start and there are a lot great resources available for kick-starting a plan. The comments are always smarter than the post.

By: Beth Harte

Beth Harte — Mon, 01 Dec 2008 23:11:17 +0000

@AlasdairMunn, your post was a great addition to the conversation. It’s great to read someone else’s take on it. Your readers had a lot of wonderful insights!

By: Alasdair Munn

Alasdair Munn — Sat, 29 Nov 2008 18:12:23 +0000

Hi Beth. I started a reply but it became too long and involved. I have added it to my blog. Here is the link http://claremunn.com/2008/11/the-roi-of-social-media-yes-or-no/ RE: Your message above.

By: Jessica Hunter

Jessica Hunter — Fri, 28 Nov 2008 18:12:43 +0000

Awesome post Beth… love how you laid out a plan, helps get us started in the right direction.
Great conversations happening surrounding this post.

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 04:19:39 +0000

@Yiuwin, the one thing I will say is that companies see social media as “free” or inexpensive, but that’s not the case. There is time involved and that could mean an employee’s time (i.e. salary)…just as a minor example. Thanks for the kind words!

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 04:16:56 +0000

@OlivierBlanchard, Point #1, ah, no. The PR professional in me wouldn’t let that happen. But you are correct in pointing out that it could be misunderstood that way. Pitching bloggers is like pitching the traditional media…you need to have a relationship with both and with that comes understanding who they are, reading their posts/articles, and picking up the phone or sending an email (whatever the blogger’s/journalist’s preference is). I hope that eases your mind. Point #2, you are correct, there are deeper and more meaningful measurements…I just didn’t get into them. I am always amazed that companies don’t know what their goals and objectives are, but that’s why we are here, right?! To help clarify that and make it look simple. Thanks for providing the second half of where this discussion should go…

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 04:11:38 +0000

@SteveDodd, thank you! I mentioned this a few comments back, but this planning is by way of PR planning (SMART planning/objectives) and it’s really simple to do…a company just needs to roll up its sleeves and do some strategic thinking. And as Amber suggested, talk to customers.

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 04:09:04 +0000

@LisaCruz, I think with social media and conversations had, people might not like being objectified as a “lead.” Because that’s what we are talking about here….people. Companies might call them that, but I think it’s more about the relationship. Business development people have understood that for years. And traditionally where leads get “mucked up” is when they hit the sales department or aren’t vetted by marketing for quality (and the quality is lacking because a conversation was never truly had with that person). By utilizing social media and Web 2.0 tools, the conversations are outside of the company and the people you are talking with (or, more importantly, might be talking to other people about your company) might never interact with a sales person or marketing person, and yet, still buy from a company. I hope that makes sense…

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 04:02:52 +0000

@FernReiss, you are spot on…and your comment reiterates Gennefer’s comment on integration. Integration has always worked, even in traditional marketing.

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 04:00:10 +0000

@MikeMcClure, thank you, I appreciate that! Be sure to share the awesome comments too!

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 03:59:13 +0000

@GenneferSnowfield, “Any good marketer knows that the most significant return comes not from one singular tactic, but from a fully integrated marketing mix, all working in tandem toward a clear strategic objective.” Agreed, and I tried to make that point in my post. It’s multiple interactions and conversations that move the needle from prospect to customer. The other important point that you make is the difficulty in measuring a single conversation (or even multiple conversations or marketing ‘touches’) to a sale. Even if a CRM system can capture all of that campaign information, it’s still subjected to human error. Great points here, thanks Gennefer!

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 03:53:42 +0000

@MarcMeyer, thanks! One thing, marketing is not a function of sales…it’s the other way around. (Sorry, had a CEO tell me that once and it hits a nerve. BTW, he’s no longer a CEO). This will lead me down a different tangent, but since we are here… Sales isn’t standalone, it’s a function of marketing (P as in promotion), so why aren’t more marketers comfortable with that promotional aspect and the conversations that go with marketing? By conversation, I mean external conversations with the customer. Might need to blog about that.

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 03:48:35 +0000

@ClaudiaBenassi-Faltys, you are quite welcome! Mack is a smart guy and he is correct, a benchmark must be captured prior to kicking off a new plan. Here’s a link for you: http://www.learnmarketing.net/smart.htm. Best of luck!

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 03:44:54 +0000

@AlasdairMunn, valid points. I think the PR folks would totally agree with you. The marketers, well those that even have a plan, might see if differently. Unfortunately, we have been trained to think that our work = leads = sales = job justification. If marketers are going to move into the social media realm, they need to change their mindset and learn that it’s about the relationships that ultimately come out of their work (conversations). Those are my thoughts…what do you think?

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 03:41:27 +0000

@JasonBaer, yet another great angle! How does a company compare to their competition and why it should be measured as well. I would venture a guess that if you are having conversations with customers/prospects that your competition isn’t…your ROI (indirect or direct) will improve. Happy Thanksgiving to you also!

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 03:38:52 +0000

@AmberNaslund, no pains here, this is a conversation about an important topic. “If you’re aiming for the wrong things in the first place, hitting the mark isn’t going to matter one lick.” Agreed. I think the most important thing that you bring up is talking to your customers. There are, as Mack pointed out in a recent blog post, so many assumptions being made on either side (internally, the company and externally, the customers) that neither side knows what is being said. And that’s a moving target. Thanks Amber for bringing another major and important point to the discussion.

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 03:34:47 +0000

@ChrisSelland, ultimately it depends on what you want to measure…ROI could be return on influence, which could be an indirect way to sales/revenues.

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 03:27:50 +0000

@Webconomist, thank you sir! There are many things that can be measured. The “R” the “I” the influence, the results…it all depends on a company’s goal(s). Recommenders/evangelists are always capable of influencing more of your product/service to be spent, of course. In traditional marketing they would be WOM folks, affiliates or lead referrers. I think it would be the same in social media…the champions/evangelists that use Web 2.0 tools.

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 03:23:58 +0000

@EricBrown, very interesting. Why do you think they dismiss the notion of social media? Is it the same mindset that makes people shy away from media relations? The fact that you can’t control the outcome? I wonder…

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 03:21:41 +0000

@DamienBasile, “Different media warrants different usage just as different people necessitate different ways of interaction.” Very true! The measurement of social media, my prediction anyway, is going to fall along the same lines as PR measurement (which, by the way, is still trying to be figured out all of these many moons later). I think marketers are going to struggle with this and it’s one reason why I used a SMART plan (typical in PR planning) vs. a marketing plan. I hope that it just kick-started some initial thoughts towards the need to plan.

By: Beth Harte

Beth Harte — Thu, 27 Nov 2008 03:18:09 +0000

@RichBecker, Understood. To clarify, my point with the increased comments and blogger outreach was conversation, but I suppose someone new to social media wouldn’t get that. In this case, of comments to a certain output (YouTube, a blog, etc.) could be considered a positive outcome. And the blogger mentions example is an output. Outputs, outtakes and outcomes are all viable for measurement…depending on what the original goal was.