84% of Social Media Programs Don’t Measure ROI
The vast majority of professionals worldwide are using social technologies for business purposes, according to an August 2009 survey by Mzinga and Babson Executive Education, but most are not measuring return on their investment.
Determining the success of your social media efforts can be a big investment in and of itself, but there are a few basic measures that cost next-to-nothing. Here are a few:
- Track the growth of your various social media channels
- Record your unique blog page views
- Count the number of Twitter followers
- Watch Facebook Fan Page interactions
- Track unique website visitors
- Analyze traffic generated by SEO, Facebook events, Twitter promotions, etc.
- Track leads and monitor leads by source (inbound web, email, trade shows, seminars, etc.)
Start there. While some of these measures won’t necessarily translate into a hard-core ROI or measure the business value generated, you’ll at least be doing something. You can’t manage what you don’t measure.
What measures are you using?
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October 8, 2009 at 4:37 pm
Hi Donna,
I’d also add that setting goals at the outset of a project is necessary to measure ROI – if you don’t know what you’re trying to achieve, how can you measure if you’ve achieved it or not?