I met with a group of CEOs this morning and social media came up in conversation. More than several members of the group wondered if a social media strategy is worth the effort. In other words, how do we measure the return on investment (ROI) of our social media initiatives?
This is a topic that comes up a lot at Matrix Group. Unfortunately, there isn’t a magic formula for calculating ROI on social media activities. Mashable says that you can measure the ROI in two ways:
- Qualitative – Are you part of the conversation in your industry? Are you able to demonstrate that you or your organization is a thought leader? Is social media able to help you build better relationships with your target audiences?
- Quantitative – Look to your usage reports, RSS subscriptions, e-mail opt-ins, e-commerce sales and registrations to see if social media is increasing traffic and transactions. (more…)








