Social Media Return On Investment (ROI)
Wednesday, October 7th, 2009Twitter has some good information from time to time. I just ran across a Twitter hash (#roi) that has a series of posts about measuring return on investment for social media sites.
A Twitter hash is used in each individual article so that it is easy to search for articles of interest. In this case, if you do a search on #roi, you will find all articles that are related to Return On Investment.
The following article is a great start to measuring ROI, which follows our process for helping clients improve their sales and profitability.
Here is a simple, five-step framework for developing a social media ROI measurement program. Remember that not all social media initiatives will result in short-term ROI generation. It is also important to comprehend the results of programs that result in non-financial value or impact. (For a quick refresher on the difference between value and ROI read this). Holistic measurement programs should be designed to track and measure non-financial impact as well as ROI.
By Don Bartholomew (Twitter name: donbart)
Non Stop Portals is ready to help you implement solutions that will have measurable benefits to your organization!
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