Too many social media pundits hold the view that a social Return on Investment (ROI) can’t be determined. You’ll hear all kinds of reasons like too many unknowns. And there’s my personal favorite, “Don’t worry about the ROI, just get a strategy and start doing something.”
Well, I agree with part of the above statement. You do a need a social strategy to before you can even begin to determine the social ROI (smROI). But the rest? They’re mythtaken.
Social ROI can be determined. So why do the myths around ROI persist? Here are a few reasons:
- Analytical Complexity.
- Challenges with Unknowns.
- Misalignment between expectations of buyers and sellers.
I gave an interview to Chris Buckholtz at CRM Outsiders, where I got pretty vocal on the subject, if you want to know more of my thoughts.
A big question, though, is how do you move beyond the hoopla and smROI myths and get real? In the end, that’s what it’s all about.
Join Dr. Natalie and I this week at our Focus roundtable. We're going to slay some dragons by Blasting Through Social ROI Myths. This builds on discussion in our The Business of Social Business ebook.