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Calculating the ROI on Social Media

by Larry Freed, President and CEO, ForeSee Results, 2010. "Social media is enormously popular and most companies and organizations have some sort of social media program in place. Behavioral tracking of exposure is one way to measure its impact by counting fans, retweets, clicks, and visits, but this doesn't capture the influence of social media, which may be far greater than behavioral tracking represents. Despite the prevalence of social media measurement technology, questions remain:
• How can you quantify the contribution of social media to the bottom-line?
• Does social media drive sales?
• How can you validate the success of social media initiatives to properly allocate resources?
• How is social media contributing to intended business results (recommendations, purchases, subscriptions, etc.)?
• Does social media return on investment (ROI) justify your social media resource allocation?..." [Requires Registration]

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