How To Calculate the ROI of Enterprise 2.0. With enterprise social software platforms still in their infancy, ROI measurements are just now becoming possible with early adopter communities.
While I don’t expect that we will need to continuously re-justify these tools in the workplace, I do believe that measurements are going to be required to help bring about a more successful transition and wider adoption. At the Enterprise 2.0 conference last month, I spoke on a panel about measuring the ROI of E2.0 from an HR perspective. After listening to questions from the audience, I realized that community mangers are looking for more detailed guide of how to measure the benefits of E2.0 software. Calculating ROI can be a daunting and overwhelming task, but given advanced analytics it is definitely possible. I would suggest starting small, selecting one area to focus on and then building upon that. Business Driver #1: Employee Engagement Business Driver #2: Turnover Business Driver #3: Sales A Note About Accurate Analysis.
3 Reasons Why There's No Measuring ROI On Social Media. Calculate the ROI of Social Media. InShare629 Guest Post by Jaap Favier, managing partner of The Small Circle What is the secret of bars?
Why do we happily pay four times as much for beer in a bar as in a store? We pay this brand premium to be with friends. The secret of bars is that they convert our quality time into cash. The time with friends and relatives is worth a lot to us. Twitter accounts, and Pinterest boards serve as online bars, where: Staff speaks to visitors. Strangers introduce themselves. Friends converse with each other. A consumer, let’s call her Lucy, walks into a bar wearing her TOMS. Lucy’s contacts see her online signals. Each time Lucy and a friend share a brand experience, they invest time and trust. At the end of a successful evening, a bar owner keeps track of his ROI with hundreds of bar tabs.
Number of touchpoints. Social Media ROI: How To Define a Strategic Plan. As marketers are tasked with the challenge of doing less with more, there's an increasing demand to quantify the value of social media.
Here's a guide to mapping a social media strategy with meaningful key performance indicators (KPIs) that align to business objectives for tangible measurement! Following the Social Media Strategy Funnel Quantifying the value of social media can be a daunting task. Unclear objectives and numerous metrics add confusion. It's time to ground your social media initiatives with a strategic plan that makes measurement clear and easy. Start by following the social media strategy funnel. "80 percent of marketers incorrectly begin with tactics instead of goals.
" Like most marketers, you probably began using social media because it was new and fun. Confess already. Stop the madness! Mapping a Social Media Strategic Plan Start social media planning like any other strategic plan. Note: Red circles depicted on the chart above denote the step number below. Next Steps...