Today was a day full of “AH-HA”. I finally saw the light on social media and ROI and where is it really brining us to. Is the data we mine really getting us the results we need to improve our business? Will the COO or CFO know what we are talking about?
Today’s lunch with Priscilla shed some light on ROI on social media and some industry standards being used. It’s good to know there’s some kind of industry standard being used for measuring cost savings and returns by using social media. Fascinating to know, that was an “AH-HA!”
I guess I’m so fixed on using the data provided to prove a point…. It might have to do with my previous internship at British American Tobacco and how they kept telling me the importance of “making a story out of numbers” which goes with what I was mentioning earlier… Use the data from social media to make a story on ROI…. Right? NO!!!!!!!! Maybe for a mature industry like the tobacco, but to transfer using one medium of measurement to another, and like Priscilla mentioned, its such a fluid medium, its a subjective measurement just basing on the industry’s current standards.
However, during today’s presentation in class, when we were talking about ROI, i guess I was so fixated on knowing there was a standard, i immediately assumed that was the norm to use… I forgot about my post on Money Talks and ROI for social Media
Which also meant i forgot Michael’s post on Discussing social Media Measurements and its basics!
(I’m linking it back to the same post so I can remind myself….)
OMG, after talking to Michael, it felt like i could see the light! Felt the same way as when Gregor Halff told us the importance of the core idea before jumping into a campaign for creative comms. Like *smack* on the forehead, now i get it! Now here’s the HUGE “AH-HA!”
Boy i dun wanna end up like Calvin when I’m gonna start working. I guess it is time to take one step back and say, “Hey! Do we really need that? Is that really useful? Isn’t there a better way to get that?”
Back to the same 3 steps i posted b4, now that’s gonna change things! Now i see the light, now i get to do the “AH-HA!!”
Here’re some slides from MTV by Ian Steward for a great example on getting the right data and making that switch.
But before that, just scroll down and relax with my JUST FOR FUN TUESDAYS!!
Congrats on the Aha! Envious that you’re working with Priscilla! I wanted to take it up but couldn’t commit the duration of the internship. Great mind to pick there.
wrt ROI, I also think it’s different for different companies who need different metrics, be it clickthroughs, just traffic, search results, etc.
Thanks! But she’s real busy most of the time, so it’s kindda hard to grab her, lol….
I think getting the right questions for ROI is gonna change the way bussineeses look at corp comms and social media. Even with sports marketing, I think its gonna be great if the right questions are asked on what returns we want. Which brings me to Sports 2.0, how are we gonna measure that 1?
ok ok. i read you. You can just talk to me, i just won’t reply as much. hah
It’ll be better 2 weeks later. By the way, remember what i told you about sports marketing/ PR .. if you are keen…
Hahaha:) If we start talking about this over the conference call tmr, that’ll be funny!
Yes! I’m just wondering if we had any social media initiatives involving local or regional sports events?