Diary of a Gen Y Professional

November 12, 2009

Measuring ROI

Filed under: Uncategorized — kdonahue87 @ 3:25 am
Tags: , ,

I’m really enjoying my new job. I’m still a little undecided as to whether I enjoy working in an office more than working from home, but it’s a nice change of pace at the moment.

Immersing myself back in the world of social media has brought up a lot of questions. Namely, how in the world are we measuring social media ROI?

ROI has always been a tricky area in my field. At my first job, we measured public relations ROI based on advertising prices. If a client was in a one-page article, we looked up what the advertising price would have been for that same amount of space. I don’t necessarily think that’s the best way to go about it, but it seemed like the most logical choice at the time. For one thing, the article was hardly ever focused on our client exclusively, so it really didn’t represent equivalence.

I think it’s so difficult to measure these things because social media marketing and public relations are really long-term approaches. You’re building a brand. At the end of the day you want it to contribute to your bottom line (increased sales/Web traffic/media exposure/etc.). That’s not done overnight.

So what’s a girl to do? I mean, you have to show quantifiable results in order to justify your paycheck, right?

I’ve been scouring the Internet, as I’m wont to do, and I’ve found a couple of interesting articles about ROI and KPIs (key performance indicators).

35 Social Media KPIs to Help Manage Engagement

What and How to Measure Social Networking Websites

The FINAL Word on Social Media ROI

How to Measure Social Media ROI for Business

What is the ROI for Social Media?

When it comes down to it, measuring social media is about measuring engagement and brand awareness. Just because there isn’t a concrete monetary value doesn’t mean that it isn’t invaluable to your business.

 

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