In response to an association colleague who was "resigning Twitter," I've written two posts titled "Twitter is More than 140 Characters."
My colleague has asked and others have posted same question: "How much time and what's the ROI for Twitter and other social media tools?"
To be honest: that is a tough question. I can share anecdotal information but at this point, I have no personal ROI analysis to share.
Nevertheless, here are some thoughts about return on investment for social media.
The ROI Question
In my early career (public relations), we faced same question: "What's the ROI of a news release?" And, that remains for PR. Flash back to last Christmas: What is the ROI of this national network news feature on one of our client's Trees for Troops program? NBC Nightly News piece
Let's assume the literal definition of ROI is "the financial results (impact, sales, revenue) generated by an investment of time, money and resources into a specific set of actions."
It is easier for us to measure "activities" such as number of "Web hits," number of news releases, number of conference attendees, your page ranking on a Google search; etc.
Measuring ROI starts back with your overall strategy: Why are you doing what you are doing? Who are you trying to influence and what do you want them to do?
As I mentioned in Parts I and II, my goals for social media have included:
1) Listening: Monitoring mentions about our company, our clients and the industries/professions of our clients.
2) Sharing: building community which in turn helps build brand awareness and find collaborators for our AMC and/or our clients.
3) Promoting & Fund-raising: In my mind, social media includes blog(s), LinkedIn, Facebook, Twitter, YouTube, Flickr, Google (News Alerts), etc.
ROI Anecdotes
- The content being shared via Twitter serves as a valuable tool in our association and cause marketing work. I shared some of my key contacts
- Last month, we signed an agreement to manage another association client. We first learned of their search via a Google News Alert. Chalk one up for social media.
- We are currently implementing two or three fund-raising projects for the Christmas SPIRIT Foundation which we "connected" via Twitter. Until we complete the fund-raising, I won't be able to determining the ROI ... in terms of net revenue.
- We're in the middle of a Twitter-based fund-raising campaign for the Christmas SPIRIT Foundation's Trees for Troops program. Some of the ideas came from Twestival fund-raising which we learned via Twitter. [I'll be presenting a workshop about Twestivals and Tweetups at the ASAE Great Ideas Conference in March.]
- Friday, I received this Tweet "@causeaholic We could really use you expertise!" I responded. "Call me." He did. And, now we're in a dialogue about a potential new client.
- AdAge has slated a blog post from me in its Good Works section. Assuming it runs, what is the ROI for our company and the client we are showcasing?
Here are links to some blogs and papers on Social Media ROI that I've collected and may be useful to you ... all shared via Twitter contacts:
- Measuring the ROI of Social Media Campaigns: http://bit.ly/1s0mhH
- Measuring Social Media is like an Oreo Cookie: http://bit.ly/7NxrN
- Case Foundation Video: Is there a good return on investments when you use social media? http://bit.ly/3lQEto
- Six Must Read Posts on the ROI of Social Media from @MaddieGrant http://bit.ly/4suOoQ
And, finally, here's (http://bit.ly/2ZHvMy) great blog post from David Cooperstein at Forrester ... not on ROI but simply some ways you can test the power of Social Media.
PLUG: I'll be a faculty member for a Social Media Workshop at the AMC Institute's winter conference at the Hyatt Regency Hill Country in San Antonio. The Workshop will be held from 1-5 pm, Wednesday, February 10.

