You’ve all the heard the arguments about measuring social media:
How do you measure the ROI of your telephone?
Or my other favorite:
What’s the ROI of putting on your pants in the morning?
Man, this ain’t my social media, this is a cell phone. Duh!
The ROI of putting your pants on:
In all seriousness, having a phone at work and putting on your pants is a cost of business. At one time having phones at everyone’s desk was something that had to be justified. Now having a phone is a cost and managed accordingly. Do you really want social media to be managed by cost and not by return? Guess which gets more budgets?
BTW: Unless you work from home the ROI of putting on your pants should never have been a question.
The greater risk here is that the people who are resistance to measuring social media are well intentioned and for the most part “get” social media. While we’re sitting around debating the merits of measuring social media, marketers and advertisers are calculating the ROI of Facebook fans and followers.
Boland also served up advice on how to calculate a cost-per-fan metric to determine the campaigns return on investment (ROI). Not only the cost to acquire a fan, but the fan’s worth.
If you walk into a meeting preaching that social media shouldn’t be measured because you decided to put on pants and the other group walks into the meeting showing the ROI of individual Facebook fans and the cost per acquisition, take a wild guess who’s going to get the budget and guess who’s going to loose their pants?
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