Pam Moore created a Twitter chat last night and asked people to explain the return on investment of social media.
One thing I'll offer off the bat: ROI is vital, but not every social activity should have ROI. Sometimes other KPI. #getrealchat
— Scott Gulbransen (@kcgully) February 19, 2014
A2.Yes. SocBiz ROI is achievable. Must define goals, set KPIs, establish baseline, est. campaign infrastructure; execute; ROI #GetRealChat
— Susan Beebe (@susanbeebe) February 19, 2014
— Lewis Bertolucci (@Lewis502) February 19, 2014
A3 I feel ROI is different for every business and every brand. Some clients just want likes, others want sales etc #GetRealChat
— John Muscarello (@JMMuscarello) February 19, 2014
What is the ROI of your phone? or email? Stop asking about social media ROI and start learning how to measure. #GetRealChat
— Vala Afshar (@ValaAfshar) February 19, 2014
No offense to anyone but Erik Qualman compared the ROI of social media to the office telephone — in 2009.
Chris Rasmussen went a step further when I interviewed him that year:
“It’s hard to imagine an office without telephones and email. In many cases, social tools are put through more rigorous tests of utility than other tools. I don’t think we are ever going to see a tool as successful as email, but social tools are becoming a part of daily operations and collaborative success. Getting requests to tell ‘success stories’ in social tools are getting tiresome, to be honest; there are too many to tell!”
Erik shared some of those successes in his Socialnomics videos over the years.
“The ROI of social media is that your business will still exist in 5 years,” he clarified.
You have to be known, liked, trusted, and respected — and there’s your ROI. Get yourself out there, enable people to talk about you, respond to their questions or complaints, be an authority, promote yourself and your friends, measure everything, and you’ll make a buck.
It’s easy. Why are we still asking and answering the ROI question?