Continuing the conversation we started at Buzz2010 with Olivier Blanchard on social media ROI, I’d like you to take a look at this interesting presentation on Digital ROI by David Berkowitz, which he gave to the Promotion Marketing Association (PMA) this spring.
One of my big aha moments from Buzz was that community managers or social media managers who are tracking metrics for their social media activities need not be those who analyze that data. In other words, leave the analyzing to the analysts. Leave the financial ROI calculations to the finance department. (I do think there needs to be some way that those different roles could learn from each other specifically, about social media as a channel for achieving business objectives – but that’s a post for another day). But just as I was thinking to myself, well does that mean we should ONLY be measuring certain things (e.g. conversions) and not others (e.g. influence, engagement, sentiment)? – Olivier answered the question in his talk. He said, it’s ok – even good – to collect all kinds of data. It’s good to measure things that don’t have any demonstrable (quantitative) link to financial impact yet – because maybe some of these things will in the future. And of course there are hundreds of things we can measure with social media and lots of discussion about how and what and when and why to measure them.
So then I came across this slide deck which has a pretty interesting summary of some of these things we can measure. Like all good social strategists, Berkowitz reminds us that we must measure against objectives, of course. It is definitely NOT about measuring everything you can just because you can. But I still think it’s worth tracking some of these “woolly” qualitative things because we’re all experimenting with these channels and these new relationships. Check it out and see what you think.
While I’m at it, too, here are a few of the press clips/ blog posts analyzing Olivier’s Buzz session. I know this conversation will keep on rolling!
- Social Media R.O.I. for associations and non-profits/NFPs (The BrandBuilder Blog)
- Social Media ROI (Association Bisnow)
- Making sense of social-media ROI with Olivier Blanchard (SmartBlog on Social Media)
- Understanding social-media ROI in the nonprofit space (Smartblog on Social Media)
- Does your social-media campaign pass the FRY test? (Smartblog on Social Media)
- Rant Time: Social Media ROI (Mizz Information)
And here are some pics from the event!