Posts Tagged ‘senior service providers’

Many of our clients, which include home care agencies, reverse mortgage specialists, adult day services, and many other types of senior service providers have ask the question- What is the ROI from social media?

Here is the answer- one of the best I’ve seen beyond “what is the ROI of putting your pants on this morning?”….:) I can always count on Lee Odden for great answers….

Read the original (entire post) here.

“What is the exact ROI from social media?”

The inevitable ROI question is an important one.  How do you measure the ROI from public relations, community involvement, attending industry events, focus groups or recruiting?   What is a relationship with a customer worth? Or with an industry analyst, journalist or blogger that writes about your company?

Social media participation can serve many outcomes for a business.  The key with measuring Social Media ROI is to identify specific goals, build a strategy and execute either a full program or a pilot with the ability to measure outcomes.  Those outcomes have value and the goals/measurement piece is the first step.

If a social media effort is focused on connecting with influentials in an industry, aka digital or social media PR, KPIs might include social connections, comments, mentions, links, stories or contributed content. Jason Falls and Katie Payne have some interesting thoughts on that. For example, one of the goals for TopRank’s Online Marketing Blog is to achieve 10-20 unsolicited mentions of our company or key staff by industry blogs, publications or influentials each month. We’ve exceeded that by far.

Another example might simply be list building. Basic Facebook marketing might involve setting up a company page with useful info and discussion, promoting it to attract fans and then providing offers and incentives to join email lists that provide other useful information and benefits. Once a social subscriber/fan/follower opts-in to an email list, you can provide profiling options to ensure they’re getting relevant value and marketing offers.

In the case of 1-800 Flowers, fans can buy directly from the first online store to be launched on Facebook. There’s no question about how to measure the ROI from commerce in that situation. But online commerce is not appropriate or reasonable for many companies, so measuring outcomes that influence sales becomes the “social media ROI” answer.

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