ROI – Doesn’t Mean Return on Ignorance – it means Social Media Marketing Return on Investment (ROI
I eagerly awaited the UPS man with her delivery of a book claiming to help us measure the Return on Investment of Social Media Marketing. I wondered, would the measurement by an increase in Twitter followers, Facebook likes, LinkedIn connections, YouTube views, or perhaps the Holy Grail of marketing – actual conversions to a sales action, like purchasing our product? Many are engaged in Social Media Marketing, I thought, but few are engaged in the actual measurement of their Social Media Marketing ROI.
Blanchard makes some great points throughout the book, beginning with the title. Even if measurement of ROI is difficult, that’s no excuse not to set up basic measurements for a Social Media Marketing campaign. Before / after is an obvious split – do we have more Twitter followers today, or more tomorrow after we honestly and eagerly create a Twitter marketing plan? URL click thru’s is another – if we Tweet a URL, blog it, post it to our Facebook page – do people actually click thru. Bit.ly is a great free service for quick URL tracking. And, finally, if our ultimate goal is to sell something or drive registrations for a free consultation, webinar, or download – is our Social Media Marketing driving those conversions? Blanchard touches on all these topics, but doesn’t provide a great framework for setting up measurement.
Ultimately, the book – despite its title – isn’t really about ROI. It’s more about weaving Social Media Marketing into your organization. That’s really pre-ROI, if you think about it. And that, dear reader, brings us to the year of our Ford