Social Media ROI - Measuring Social Media Return on Investment | Small business news; tips; networking

Posted by shanegibson under Social Media
From http://www.closingbigger.net 5458 days ago
Made Hot by: starresults on December 16, 2009 2:43 am

Today’s social media podcast is on social media ROI or return on investment and why it’s not nearly as important as ROR. ROR is a term introduced to me by Darcy Rezac author of Work the Pond. From a social media perspective and a general marketing perspective most people are nearsighted and have serious tunnel vision when it comes to social media ROI. ROR is about return on relationship and not just winning clicks but winning hearts, minds and loyalty. Most people talking about social media ROI have only been studying it for 24 months or less. Some don’t even use social media actively as an engagement and relationship building tool. I discuss this and many other aspects of ROR and ROI for social media in today’s podcast. Any and all feedback on this podcast would be welcome and appreciated.

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Comments

Written by billrice
5452 days ago

That is what I love about Cindy, she is always sharing. Even though I am in sales, I don't do enough calling. I have already vowed to make 2010 the year of taking online relationships to the offline level--I think calling is one of those action items.

Thanks for the tip Cindy. And thank you Shane and Zane for inspiring the discussion.

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Written by ZaneSafrit
5457 days ago

Cindy King. Wow. That's a great idea to phone network with interesting people on twitter. I'd love to read a followup story from you on that. In the meantime...I might try a few baby steps with it. Thanks.

Return on relationship...I like that concept a lot.

Here's to 2010 where more data, more meaningful data, for ROI and ROR for social media's use is available.

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Written by CindyKing
5454 days ago

Zane,

Well the trigger that got me started happened in December 2008, and it's kind of interesting, so I'll share that with you here.

I had asked to connect to someone on LI. It was another member of a small professional group I belonged to. And he insisted on speaking to me first on the phone before accepting the connection. He is older and did not feel at ease on any social networking platform. When I spoke to him he told me how he enjoyed meeting people like this. His networking was slower this way, but he felt he made more meaningful connections.

In November 2008 I had started my Tweet Plan (5 strategic tweets a day) and contacts made on Twitter were emailing me fairly regularly and at the time I was struggling to keep up with these emails. I start my day early, so mid/late afternoons I start to wane fairly rapidly.

After speaking to this gentleman I decided to spend this time connecting with people on the phone/skype. At first I wanted to aim for 1 a day. This is not really feasible, but I do average about 3 or 4 a week. They are not always new contacts, but they are almost always people I first met on Twitter.

These first phone calls are great, but it's still difficult to judge how you can take these connections further... so I came up with another idea. Twitter Interviews. After the Twitter Interview process it's much easier to identify future networking/partnership possibilities.

The first thing is to set aside a convenient time in your schedule to network. Then come up with ideas to take those conversations further.

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Written by CindyKing
5457 days ago

Excellent podcast Shane. Here are a few of the comments I left on your blog...

Trying to measure tools and expecting ROI from them is a big problem.

Given the time businesses have been using social media, I’m hoping we’ll hear more examples in 2010.

I started phone networking with interesting people I met on Twitter in January 2009. I do feel the tree has been planted, has grown and is now budding. I expect the fruit to start forming in 2010.

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