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How to Determine ROI from Social Media
Last week I wrote about the need for companies to get on board the Social Media bus now before it leaves marketers so far behind that the cost to start and show immediate results will be so high that executives will not want to “experiment”. Judging by the emails I’ve received about the post, the problem is not the marketers don’t agree, but rather that they cannot get others above them to allocate any budget to Social Media because they’ve heard that it cannot show a direct correlation to ROI (side note: if you have questions, please post them to the story on my blog rather than emailing me since the back-and-forth in blogs provides a great education for readers. If you’re reading this on my blog, please accept my apologies; however, there are many people who read this through Facebook or Twitter so I wanted to make this point to them).
While I had no problem answering each one and gave clear examples of how to measure the ROI of Social Media, I just came across this slide presentation by Olivier Blanchard that sums it up rather nicely and with some much needed humor. While his presentation is different than mine, this is pretty much exactly what we advise others to do and what my company does for our clients. Enjoy.
September 23rd, 2009 at 6:40 am
How do we access the Oliver Blanchard slides mentioned in your blog?
September 23rd, 2009 at 7:53 am
Rich,
The slides should be visible in the blog on my blog at
http://demicooper.com/blog/2009/09/22/how-to-determine-roi-from-social-media/
I’m looking at it now and it’s there (wait for it to load if your connection is slow — it’s beneath the story). If you cannot see it on my blog, copy and paste this link to see it directly.
http://www.slideshare.net/thebrandbuilder/olivier-blanchard-basics-of-social-media-roi
Let me know if you have problems finding it.
Charles