Measuring social media ROI: it is possible
Picture by: <a href='http://www.flickr.com/photos/burge5000/439664301/' target='_blank'>Peter Burgess</a>
Picture by: Peter Burgess
UK is pioneer in the measurement of well-being and happiness. Yes, you can measure happiness! Then, what can we learn from the measurement of happiness to be applied to the measurement of social media ROI?
Three aspects, essentially :
- Everything is measurable, even happiness and social media ROI. In general, all the intangibles are measurable, between others: brand image, engagement, or word of mouth.
- If measuring happiness requires understanding human psychology, social media ROI measurement requires knowledge of marketing, communication and finance, and can be assumed to have to apply methodologies that are not easy to implement, or require some statistical knowledge.
- As is the case in some countries, like UK where happiness has been steady during more than half a century while per capita GDP has been increasing, be prepared to have disgusting results. Maybe your campaign has not been as successful in terms of ROI as you expected ! Regardless, you will have done a scientific measurement, so you can be reassured.
How do you see this? Are you in the mood to start measuring social media ROI?
* A version of this post was published first on Socialancer.com, 23rd October 2012. Original in Spanish.