Thursday, March 05, 2009

ROI in social media: If you can measure it you can value it

One of the toughest challenges facing those of us seeking to evangelise the use of social media for its group-forming, co-creating, conversation-enabling, epoch-making value, is getting sign-off from those holding the purse-strings.
Like many embedded in social media I tend to 'know' there's value in it. I don't need anyone to calculate it for me and offer me a Return On Investment.
But not everyone is embedded in social media - and that 'not everyone' often includes those in the boardroom who need to justify every sweat of spend to shareholders and other stakeholders - especially in troubled times.
So Luke Brynley-Jones' presentation at Brando Social's Winning With Social Media event might be just what you were waiting for.
Luke argues that if you can measure something you can ascribe value to it - and reveals how you can go about measuring social media.
It's the third video from the morning session of Winning With Social Media (which was held at the Soho Hotel, London, last week). Watch it below. I've also added Luke's slidedeck.
Alternatively, watch the video alongside the slidedeck on the site.
The previous two parts: What is social media? and Adapting Brands and organisations to the networked world (by me) and From Interruption to Engagement (by Alan Moore) have been made available on this blog earlier this week.
And yes, there is more to come!
Hope you're enjoying the series and I do, as always, welcome your comments and contributions.
Disclosure: I work for Brando Social.

Luke Brynley-Jones "New measures of success" from Brando Social on Vimeo.

Here are Luke's slides to accompany the video:

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The rate of change is so rapid it's difficult for one person to keep up to speed. Let's pool our thoughts, share our reactions and, who knows, even reach some shared conclusions worth arriving at?