The ROI of Social Media – or how to convince your boss

Social Media is engagement – if you don’t get it yet, I hope you will very soon. But engagement is very hard to measure, so even if you do get it, your boss might not appreciate the value of your efforts.

That is why you need to create a social media engagement strategy around metrics and value add = ROI. You need to have a conversation.

The traditional way of counting is through “fluffy” things like Facebook Fans/Likes or number of retweets – which I think is just a natural extension of marketing’s best friend: click-through rate on email blasts. It’s hard to leave your comfort zone, even if you are an innovative marketer who really wants to embrace social.

What does it cost you, if you do NOT have a social media engagement strategy?  Here is a link to a free eBook with some good statistics and methods.

At Sweden Social Web Camp (SSWC)) on Tjärö island in August, we tried to look at ROI benefits versus costs. What it boils down to, is tangible, measurable and very convincing:

Source: Salesforce.com

Email marketing on its own is not engagement. And it’s getting harder and harder to use on a large scale.  Let’s talk instead.

Soft and Hard: Facts & Figures

Finally, here is a link to all the slides I presented at SSWC – there are some wonderful charts and hard numbers from salesforce.com’s extensive customer research. You can use them in your own context. Or  take them to your superiors to get at least as much – if not more – budget for your social media engagement as your colleagues in traditional email marketing.

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