PR Agency Social Media ROI Calculator

And how PR firms can benefit

Thought you’d be interested in insights into a social media ROI methodology geared specifically towards the PR agency world.

Check out the preso.

PR Agency Social Media ROI Calculator - And how PR firms can benefit

Each ROI calculator is a little different, depending on the industry and company.  However, the basic elements are consistent and building the methodology is the hardest part.  I’ve done the hard thinking to help you.

Thanks to Dr. Natalie Petouhoff for her thought leadership.  She’s the bestest!

Simplifying Social Business - How real people work

The social business model exalts engagement and collaboration with customers, partners, and employees. 

Strip it back and the reason why the social business model is fundamentally important is because it supports how real people relate and do real business.

Why then are companies still confused about the social business model?  Why aren’t they rushing to implement it in their own companies?

I’m going to explore these issues in this white paper, although I’m going to come at the discussion from a little different perspective than most other thought leaders in the social business space.

Along the way, I’ll explore why the social business model is so important for companies today ─ and the potential impact on failing to pay attention to it.

 

Click here to read Simplifying Social Business or you can view the slideshow format.

 

Chris Bucholtz reviews ValueRight

Chris Bucholtz, editor-in-chief of Forecasting Clouds, wrote a review of ValueRight, a social business valuation tool developed by Pathlight Solutions, our sister firm.

Chris wrote,

[ValueRight is] an application that takes a stab at applying the numbers involved in Social CRM – both the expenses and the revenues – to draw a clear picture of the impact Social CRM has.

…

[The] presence of such an application is great news for the Social CRM space; marketing suffered for years without the ability to associate costs and revenues with their efforts. Social CRM is an even trickier nut to crack.

Read the full review here.

 

You can also follow Chris on Twitter at @bucholz.

ValueRight product family expands

Woo hoo! We’re pleased as punched to announce we expanded the ValueRight product family.

Our Pathlight Solutions’ social valuation tools now come in two flavors – ValueRight Social CRM and ValueRight Social Media.

 

ValueRight benefits

No matter which edition you select, ValueRight will determine the true dollars and sense valuation (and ROI) for your social initiatives.  Use one of the tools and you’ll provide the information executives most want to know, including:

  • Cash flow of gains and costs.
  • Net present value of gains, costs, and net results across multiple discount rates (also known as cost of capital).
  • Return on Investment.
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5. Social business dollars and sense

Are you trying to get your management team's buy in for your social business initiatives?  Are they asking how your company makes money with social business or at least lowers cost for customer support?

If you want your social business initiative to stand out, then you have to talk dollars and sense.

Now the “sense” part relates to strategy and benefits – and we discussed these in articles 2 and 3 of the eSeries.

The dollars part though, that relates to Valuation.  And yeah, for a lot of folks economics isn't the fun, sexy part of social initiatives -- but it is necessary to get to Go (and Go means the start of success which is fun and sexy).

In today's article, I'm demystifying Valuation. I'll take out the guess work so it's easy to get your arms around it.

 

This article is now part of The Business of Social Business eBook, available on Pathlight Solutions, our sister site.  Click here to learn more about the eBook.

4. Blast Away Social Media ROI Myths

Are you confused about social media and its ROI? You’re not alone.

One big reason for the confusion is because social business, of which social media is a part, abounds with ROI (a.k.a. valuation) myths.

Today’s article focuses on getting real about social media. Get ready to blast away those show-stopping myths so you can start building a holistic and reasonable business case for your social initiative.

Once you do, you'll be a giant step closer to gaining your management's buy-in and impressing them one more time.

This is the 4th installment of the Business of Social Business.

 

This article is now part of The Business of Social Business eBook, available on Pathlight Solutions, our sister site.  Click here to learn more about the eBook.

3. Building blocks in a social business strategy

In a recent article in the Business of Social Business eSeries, I wrote about the 4 Pillars of Social Business Strategy.  Today’s article builds on that strategic foundation by looking at functional considerations for your social business.

Although a social business model can touch all aspects of your operations, and for the better, the top 3 arenas to consider are:

  • Marketing – engaging prospects and customers to extend sales.
  • Service – supporting existing customers and partners.
  • Team collaboration – with combinations of internal and external audiences.

Let’s look at each in more detail because each will impose variations to your social strategy.  This is the 3rd installment of the Business of Social Business eSeries.

 

(Note: Up next in the next installment, we’ll blast through social media valuation myths.  ‘Cause if you want your social business strategy to be successful, you have to get real.)

 

This article is now part of The Business of Social Business eBook, available on Pathlight Solutions, our sister site.  Click here to learn more about the eBook.

2. 4 Pillars of a Social Business Strategy

Social business refers to a way of doing business that focuses on what Paul Greenberg calls the Creative Economy with its focus on engagement.  Being a CRM guy, Paul focuses on customer engagement but I’m confident he’d be okay with my expansion to include engagement with customers, partners, and employees.

As Paul explains, such a strategy is…

Designed to engage the customer (plus partners and employees) in collaborative conversations in order to provide mutually beneficial value in a trusted and transparent business environment.

(Comment in italics is my addition).

Strip it down and a social business model is about going back to the future and has sites located worldwide.

First, any social business strategy you devise should be an outgrowth of your overall corporate strategy.  Even if resources require you to implement the tactical aspects of your social strategy in phases, think holistically in defining the guiding strategy.  Do this and you’ll avoid generating a siloed effect in isolated departments.

Second social business is about much more than posting on Facebook, Twitter, or other social networks.  It’s about a business model and a mindset of how you do business and outreach through social channels is just one of the results.

 

This article is now part of The Business of Social Business eBook, available on Pathlight Solutions, our sister site.  Click here to learn more about the eBook.