Last Thursday I scooted up to Chicago for the day to attend BlogWell. Some of my colleagues had attended the San Jose edition of the event last year. The BlogCouncil is the organization behind BlogWell, and a few of their members provided the case studies presented at the event.
During a few of the sessions the discussion of ROI came up. Some in the audience bemoaned this and some of the presenters gave the standard, “it’s still early” or “it’s difficult to measure”. While those answers may be good during an exploratory phase, any type of long term program is dead in the water without some soft of measurement.
Why? Well, welcome to corporate America. At some point you’ll be meeting with somebody a few levels up and you won’t have 15 minutes to explain what social media is, and why you’re doing it. You perhaps have 2 minutes and a single slide in a direct reports deck. You need to provide some tangible metrics, otherwise your budget is moving somewhere else. Simple statements like, “Engaging our customers”, “Starting Conversations” aren’t going to cut it either.
At Voce we’re constantly helping our clients measure their social media initiatives back to core initiatives and goals. After all if we’re not tracking towards the objectives we set out, then why are we doing it?