http://www.goseetell.com/blog/2008/11/don%e2%80%99t-be-afraid-to-be-engaged-measuring-social-media-roi-part-1/ Just another WordPress weblog Thu, 18 Feb 2010 17:04:01 +0000 http://wordpress.org/?v=2.8.4 hourly 1 http://www.goseetell.com/blog/2008/11/don%e2%80%99t-be-afraid-to-be-engaged-measuring-social-media-roi-part-1/comment-page-1/#comment-257 Stephen Joyce Wed, 12 Nov 2008 18:07:53 +0000 http://www.goseetell.com/blog/?p=80#comment-257 That's an interesting way to measure the effectiveness of social media. My concern is that a big part of the engagement process with social media is the credibility building process. For example, if you do not have an existing recognizable brand, it can take months of work to build up the online credibility and reputation before you can actually start measuring ROI. The measurement of effectiveness should be a secondary part of the engagement process. In my opinion, the primary reason for engaging should be to open communication with customers, partners, and stakeholders, and sharing knowledge. If the company is sincere in their efforts and provides value, then their customers and others will get engaged. You don't have to look any further then Wal-mart's failed attempt at creating a MySpace style social network to see how badly social media can go if it is contrived. That’s an interesting way to measure the effectiveness of social media. My concern is that a big part of the engagement process with social media is the credibility building process. For example, if you do not have an existing recognizable brand, it can take months of work to build up the online credibility and reputation before you can actually start measuring ROI. The measurement of effectiveness should be a secondary part of the engagement process. In my opinion, the primary reason for engaging should be to open communication with customers, partners, and stakeholders, and sharing knowledge. If the company is sincere in their efforts and provides value, then their customers and others will get engaged. You don’t have to look any further then Wal-mart’s failed attempt at creating a MySpace style social network to see how badly social media can go if it is contrived.

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