Cheers to Social Media Breakfast!!
On 31st SMBTS hosted by Compare Infobase at Sagar Ratna we had a debate, discussion and arguments on the topic- “Do you get ROI in Social Media???”
Discussion started with core definition of ROI which can be defined as return on that investment which you put in Social Media. It can be in terms of manpower, time and efforts.But question was do we get any Return on these investments.
As is normally the case there were plenty of views and opinions opposing and supporting whether measuring ROI is possible or not.
The ones who were saying that we do get ROI had thus to say
• We get ROI in terms of comments, traffic and brand awareness through Social Media.
• We do get Non Financial impact through Social Media which is indirectly helping to get Financial Results.
• Dell is an example where they have got ROI using Social Media.
• Social Media is helping organizations as we have Return on engagement – the duration of time spent either in conversation or interacting with social objects, and in turn, what transpired that’s worthy of measurement.
• Also we get return on participation, loyalty and attention we get.
However, the ones on the other side of the fence had their say as well:
• Non Financial impacts do not count in ROI.
• ROI in terms of comments, posts, and brand awareness cannot be measured and hence cannot be counted in ROI.
• ROI should be in financial terms and should give complete picture of return.
So in conclusion we can say that we do get ROI in Social Media but not directly in financial terms but rather Non financial impacts which are numerous.