Tuesday, April 26, 2011

ROI for Social Media - About Time!

Kathi Kruse's most recent blog post on Dealer Magazine's website titled 4 Tips to Consider Before Outsourcing Your Social Media, is a great read. As I talk to dealerships, HR departments and vendors about PR and social media many are grappling with ways to define goals for social media and how to measure engagement. Kathi gives some great examples of ways to measure ROI. She suggests:
  • Fan Base Growth: Hitting 1,000 fans or followers over a set period of time
  • Customer Acquisition: Getting 50 redemptions per campaign on Social Media offers
  • Support of Direct Marketing: Adding 100 names to your e-mail database per month
  • Engagement: Achieving 20% participation by your fan base (ie: Facebook “likes” and comments)
It's time to devote real numbers and measurement to social media and PR activities. While most of the social media gurus I know are the real deal and work hard to spread a brand's message and influence, there is a minority that looks to capitalize on social media without the know-how to get it done. It's time to hold those in social media and PR roles accountable and determine what measurements can help "move the needle."

What metrics do you use as measurement for your PR or social media activities?

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