It’s what every business owner wants to know before launching a website or investing time and energy in social media.
Well, last year, Stacey Soleil and I had the pleasure of interviewing author and speaker David Meerman Scott where we talked about the definition of social media and how businesses and solo-preneuers can cultivate an effective strategy.
While discussing some of the challenges of social media and it’s influence over ROI, David passionately offered up his insights about this industry wide hot topic. Here’s the clip…
Download the mp3 | 2.63 MB | 2.52 sec (right click and “Save As”)
While David argues that you can’t measure the Return on Investment in social media in the ways that people commonly think, he offers some alternatives to things that you can measure: (to quote from one of his article)
- How many people are getting exposed to your ideas?
- How many people are downloading your stuff?
- How often are bloggers writing about you and your ideas? (And what are those bloggers saying?)
- Where are you appearing in search results for important phrases?
- How many people are engaging with you and choosing to speak to you about your offerings?
- How are sales going? Is the company reaching its goals?
How are YOU using social media to connect with your customers? What types of things are you measuring (if at all anything) to track your performance?