You always see the word ROI or Return on Investment on articles, and on twitter. You always read about measuring your involvement or for some business measuring social media investments for their respective brands. Now for social media, ROI stands for Return on Influence. Is measuring social media important? What is Social media measurement?
Social media measurement simply refers to the tracking of various social media content such as blogs, wikis, micro-blogs, social networking sites, video/photo sharing websites, forums, message boards, and user-generated content in general as a way for marketers to determine the volume and sentiment around a brand or topic in social media.
In my research I came across a very good video from Digital Royalty where they share their propriety method and formula for measuring a brand’s online Return on Influence (the new ROI). Here they explain some of the key elements necessary for measurement and done in a simple straight forward manner. Our aim here at BitRebels is to empower you our readers and allow you access to some of the available tools to make your online and most importantly enable you to measure your social media investments.
Here are other links that might help you as well:
Social Media Watch
10 Steps to Achieve ROI through Corporate Blogs