Social Media Basics: Measuring Social Media ROI [INFOGRAPHIC]

Measuring social media ROI continues to be the hot topic between social media thought leaders, marketing execs and CEO big-wigs. While many feel it's too difficult to truly measure the ROI, it's only made difficult when trying to connect a dollar amount to each "Like", "Follower", or "Fan".

ROI = Return on Investment

Realistically, the value of your return depends on what goals you have set when integrating social media and your current marketing strategy.  Whether you're offering products, service, or information, there are several ways, (100 at least), to measure social media ROI.

Think about why you intend to use social media and how you expect it to help your business. The following infographic shows three basic ROI measurements:

Infographic: GetLinkedSocial

If your juices are flowing now, and you are looking to explore more ways to measure your social media success and value, I recommend reading "100 Ways to Measure Social Media" by David Berkowitz.


Tell us how you intend to use social media, and what you intend to gain from it.

DeVaughn
www.getlinkedsocial.com

Social Media Basics: Do you need it?

Today's dictionary.com "word of the day" is "yarely", pronounced YAIR-lee, meaning with quickness or agility. The word "yare" is defined: quick; agile; lively.

Seemingly outdated in use, neither gmail, blogger, twitter or facebook recognized these as properly spelled words and prompted me to correct them. But in spite of that I decided to try and find a connection to what I do as a social media coach, consultant, and advocate.

There's a great number of things that the small business entrepreneur must consider upon start-up. Despite this meticulous planning process, there are many times when the social media facets are yarely considered (or is it considered yarely?) before being thrown in the mix.

Things tend to boil down to time or money, and it's no different with marketing via social media tools. Either you have the time to do it yourself, or the money to have someone do it for you.

At a glance, using social media is a no brainer. We see all the fresh new ideas, the success stories, and naturally want to do what seems to be working for others.

However, when things like ROI, and other analytic considerations come into play, strategic planning is down right crucial. Yet, it's during this stage when many fail to answer one simple question:

Do I even need social media to achieve my goals?

Whether you're pushing product, services, or information, this question should be the first answered before walking down "Social Media Rd."

Tell us your stories about social media planning done right, and wrong. We'd love to hear your tales.

DeVaughn
@Musedgoods
www.getlinkedsocial.com