Social Media ROI isn’t easy. As announced in a previous post, I will be keynoting at the forthcoming iStrategy conference in Amsterdam on Oct. 26. In order to introduce this keynote, I have recorded a short video clip with my team which you can visualise if you click the picture on the left-hand side.
The Social Media ROI controversy
The social media ROE / ROI debate and controversy is still ranking very high on the Marketing agenda as shown in this post on the Sysomos blog entitled “Is Social Media ROI That Important!”. Actually, 4 years ago, I was thinking like that too, as stated in this old blog post I wrote late in 2008 and republished in 2009 entitled.
Beyond the social ROI Issue
Nowadays though, I rather disagree that the “numbers are so low”. We are spending more and more, and that – whether we like it not – means that there must be a shift in our attitude. So, while we need to measure things, there is a requirement for us to:
- dissociate social ROI from just sales (savings work too!)
- dissociate social ROI and ROE (which is also a valid measure)
- know what we measure and what with
- take all this with a pinch of salt as the goalposts keep moving and we need to adjust constantly (the “Klout” index, for instance, keeps shifting.