There is still a lot of discussion about the true ROI (return on investment) of social media. 
At GoodDogz.org, we look at our engagement and interest as our true return – qualitative results. But, in larger organizations, execs want to see “real” ROI – they want to see the numbers – quantitative results. Calculating this value is tricky and many times it doesn’t always give you the total that you are looking for. Several experts and organizations have put methodologies in place to help staffers better reflect ROI to their leadership. Here are a few great resources for determining your ROI.
- ROI and Nonprofit Technology Presentation (Beth’s Blog – Beth Kanter)
- Effective ROI of Nonprofit Technology Storytelling Techniques (Beth’s Blog – Beth Kanter)
- How to Measure Social Media ROI for Business (Mashable.com)
- Social Media ROI Calculator (Justin Perkins) – as a side note, I saw Justin explain the calculator at a conference and the results were interesting – good stuff.
- Social Media ROI (Social Media Group/Maggie Fox)
- Social Media Networking – How to Maximize Value and Minimize Cost (Dosh Dosh)
{ 2 comments… read them below or add one }
What timeline would you suggest for beginning an evaluation of ROI? How long does it normally take before results of social marketing efforts begin to surface?
http://www.charitynetusa.com/blog
Hey Melanie – sorry for the delay in answering this. I had to consult with a few others. We believe that a good baseline to assess the ROI of a social campaign is about six months. Obviously, it depends on the length of the campaign. However, the real key to a successful campaign is engagement and contributions. Without that, the campaign or community will fail.
Thanks to Holly @ NTEN for weighing in on this one!