The Social Media ROI Calculator
Scoops Here. For many agencies, including Strategis, we always get the same question when trying to get clients to jump on to the social media bandwagon–How do we know the return on social media? And in all cases, the answer is…You Can’t Fully. There are programs you can put in place to which you can see track the value of certain campaigns such as through a Facbook ad campaign or buzz you recieve from the press.
However, Charlene Li and Josh Bernoff have extended their ROI Calculator to social media activites.
I personally think it missed the mark, social media can not be plugged into a standard formula. We all know that a social media campaign is not “one size fits all” and you certainly can’t fully calculate its worth. I am sure there will be better ones that come along that come closer, but at this point nothing has come close.
Everyone who uses social media knows that it works, even though we can not put an exact number on it, it is still worth the time and the investment.