Chinwag Live: Show me the money - where's the ROI in social media?
With social media marketing now becoming mainstream, we see the move beyond the hype and experimentation to best practices and consolidated learning. And perhaps more importantly businesses are now asking the question - where is the money is in social media?
The growth and evolution of social media tools allows us to measure many elements of behaviour, emotions and financial impact, and even to a near real-time degree. With this measurement and tracking that is supposedly social media's strength, can it truly point us in the direction of how to make money using social media?
As businesses review their rationale behind measuring social media we ask - what measurements are most productive in terms of getting social media strategy to impact the bottom line? Is return on engagement an important consideration when considering ROI and over what timeframe? Does social media marketing require a longer-term view?
What tools, or consequently what elements of social media should we be looking at to optimise our marketing spend? Are they pointing the way to the most cost effective marketing channels? Or do we just prefer the fact that we can measure our twitter followers, blog readers and content hits, regardless of its true effectiveness?
And perhaps lastly we should ask - Is effective measurement critical to effective marketing strategy?
Join us as we explore these challenges, come armed with questions, opinions and get involved in the debate.
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http://chinwag.com/events/2010/02/social-media-week-london-chinwag-live-show-me-money-wheres-roi-social-media
