Comments on: 4.5 Trends for Social Media in 2010 – Katy Lindemann

By: Katy Lindemann

Katy Lindemann — Fri, 13 Nov 2009 15:59:17 +0000

@Matthew and @JonathanMoody – yep totally agree that it’s about understanding the value of investment – social isn’t free, far from it – it takes time and money to do it right. But the current model for evaluating ROI is to clumsily applied using metrics from ‘old’ media that just don’t apply – I think it’s probably more about indirect ROI – understanding how to measure engagement, and then understanding how this engagement pays back (rather than assuming there is a direct link between social relationships and payback). So I think I’ve probably phrased it quite clumsily – it’s not that we don’t need ROI, it’s just that the current model for ROI of directly attributing payback isn’t right, and I think understanding the relationship between investment, engagement and payback is probably where we need to be…..

By: Jonathan Moody

Jonathan Moody — Wed, 11 Nov 2009 13:39:00 +0000

Relevant and mercifully succint post – nice one!

Social media will expand beyond the marketing department: we’ve been preaching this one for years now and I only hope you’re right in that organisations will wake up to this fact. It makes getting in buy-in from all the departments tricky at times but in the long run it demonstrates to the client the need to think socially across the board and makes for a longer lasting relationship.

Return on engagement as opposed to return on investment. Absolutely and there are lots of metrics to choose from to best suit your approach (see http://econsultancy.com/blog/4887-35-social-media-kpis-to-help-measure-engagement for a selection of these). However, I’d question that social media channels are not “paid for” marketing. Social media efforts in all areas are certainly not free, requring time and resources to do properly – be they internally or externally sourced. At this stage, I think the big picture on ROE/ROI is the best approach but that’s not to say that a more direct linkage between actions and results (in $$) should not be sought. @brandbuilder is developing some interesting work in this area.
Jon Moody – @jonnybgood68

By: uberVU - social comments

uberVU - social comments — Wed, 11 Nov 2009 12:07:51 +0000

Social comments and analytics for this post…

This post was mentioned on Twitter by hofmeyr: 4.5 Trends for Social Media in 2010 by @katylindemann http://bit.ly/KWr8s – see her in action at Social Media ‘09 tomorrow #sm09…

By: Matthew

Matthew — Wed, 11 Nov 2009 11:59:39 +0000

return on engagement – yes I see that and think its a good measure.

but we will still have to find other ways of measuring costs (investment) vs what the engagement can do. I mean, there has gotta be a way to show how ROE translates into a better customer journey or a better translation of awareness down the line to purchase decision. So not using traditional paid-for ad models as you say (since they simply dont work), but finding true correlation that leads to either stronger brand preference (which should be logical to prove) if not purchase preference.

roli