Social Media ROI

Resource of social media measurement tools.

Many of you know that I am a big believer in Twitter and other social media tools as a powerful communication tool for yourself and your business. Social media is a great cost effective way for agriculturalists to tell the story of agriculture to the masses. A twitter friend of mine, Michele Payn-Knoper posted this story on her blog, Cause Matters.

Measuring Social Media Marketing

Info from Twitter on social media return on investment (ROI)

This post uses some heavy concrete approaches to understanding ROI on social media.

What drives me crazy is wondering why anyone would fail to provide a social media valuation to their executive team (just as you would for any other corporate initiative).

“What’s the ROI of Social Media?” I hear that question all the time, and it drives me crazy. What’s the ROI of your cell phone? What’s the ROI of using a computer? What’s the ROI of breathing?

Chris Penn offers a great presentation from the Inbound Marketing Summit held October 7-8, 2009. Chris' main point? Social Media ROI has to get down to dollars.

What, if any, is the value of social media marketing/branding efforts to well-established, unique brands? I.e. Oprah, Boston Red Sox, NASCAR, etc.? Do barriers to entry exert impact of some kind?

Once upon a time, people mailed their holiday wishes to the North Pole and hoped for a reply on Christmas Day. Nowadays they are sending their wishes into cyberspace and are apt to get a reply in minutes.