Feb 4 Posted 3 years ago
I prefer the remark attributed to Erik Qualman of http://Socialnomics.net, which says that the ROI of social media is that you'll still be in business in five years! I don't think a true ROI can be calculated and for myself it would be a waste of time to try and measure it. As a small business consultant I keep in touch regularly with my clients via social media and I believe that these connections have lead to repeat business, but I am not going to count the number tweets to client A to measure the return on repeat business. Thanks for the article Michael. Making us think is always a useful exercise.
Jan 4 Posted 3 years ago
I call bologne on your suggestion for calculating reach:
"Your content reach is limited only to the amount of friends and followers that people who engage with your brand have. For example, if you have 500 followers on Facebook and Twitter and they have a combined total of 10,000 followers, then your content reach is 10,500."
If my organization has 500 FB and Twitter followers and I post something, only 5-10% of my FB fans will see the (unsponsored) post, and only a limited number of their friends/followers will see that they "Liked" or commented on my post.
I haven't seen an accurate way to estimate how many Twitter followers actually see each of my organization's posts - it depends who is on Twitter, when, and how many people they are following (how much their feed changes minute-to-minute).
Any given message I post on FB or Twitter has a much more limited potential reach than the total of my fans and their followers/friends.
Jan 4 Posted 3 years ago
I do love this topic, because it is something we struggle with all the time! However, I have yet to find any sentiment monitoring program that comes close to being accurate. Most of the time, mentions of "my" company, are not about my company at all. Have you found one that works well?
We have our new clients set up a virtual phone number when they sign up, and we use that for all our marketing efforts. We also have access to that account so we can report on how many calls they got just because of what WE did. It's pretty powerful.
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