Brief Video Clip on Marketing, ROI and the Quest for Measurable Results

I was included on a very interesting panel discussion a couple of weeks ago entitled, "Stories From The Frontline, Building A Social Media Business."   The event was co-sponsored by TiE and the Social Media Club SFSV and included a terrific set of people who were experienced, smart and funny: 

Rich Reader captured a quick clip of me sharing thoughts on the appropriateness of measuring ROI in Social Media.  While the panel format doesn't furnish time for an appropriate deep dive into when and how ROI might be an appropriate metric, I believe in most cases ROI is the wrong question to ask (and if you start with the wrong question, you'll get the wrong answer.)

I will be working on a report about Social Media and Marketing ROI.  Your thoughts and input are welcome and encouraged.  Please check out the 76-second clip and then let me know what you think. 


Watch live video from richreader on Justin.tv

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Comments

SOcial Media ROI

Very interesting post. I have mixed feelings on the topic of ROI for Social Media, and maybe my conflict lies solely in semantics.

I'm a firm believer that metrics are important for marketing and advertising through any medium. Social Media is not an exception. However, measuring the influence of a company's or individual's Social Media presence should be done differently than, say, other means of marketing.

Your ROI can't always be counted in dollars. Often times it is measured in relationships (I actually just wrote a blog post about this - http://www.mshare.net/blog/using-social-media-to-generate-loyalty/), reliability, or as you said in your video, increasing purchase intent, awareness, etc.

This is something that companies venturing into the social sphere need to take into understand and be aware of. The companies who understand this principle are far more likely to 'do it right.'

Thanks, Nate

Sorry for the delay in responding--I was out of town last week and am just getting caught up!

I appreciate your comments. I agree with you--metrics are vital! I'm not arguing against metrics, just suggesting that (in most cases) using a short-term financial measure to gauge marketing success is the wrong approach.