Measuring Social Media ROI

I recently started a new job as digital content editor at Park Nicollet. It’s a new position at the company and my role isn’t yet clearly defined. However, I do know I will be in charge of all of Park Nicollet’s social media properties. That includes Facebook (our workhorse), Twitter (evolving), YouTube (sleeping giant), Pinterest (healthcare pins?) and Google+ (helloooo, anyone there?). It’ll be my job to connect people to Park Nicollet using those social platforms.

It’s also my job now to answer the age old question (in social media years) what’s the ROI of social media?

Pardon me? ROI?

After spending most of my professional life in a TV newsroom and working in media relations, where results were measured by ratings points and media hits, I must now sift through analytical data to determine the ROI of my social media work. Yikes!

Since starting this job two weeks ago, I’ve already been asked several times, by several different colleagues, for Facebook metrics and an analysis of how social media is connecting people to Park Nicollet. If this is your life too, I have some advice.

First thing you should do is read this article: http://bit.ly/MashableSocialROI.

The author, Erica Swallow, wrote a fantastic article about three things to consider when measuring social media ROI. While the information comes from a presentation given by Hal Thomas, a content manager at BFG Communications, Swallow does a nice job of simplifying and organizing Thomas’ thoughts and suggestions.

So the next time your boss or stakeholder demands to know the ROI of social media, you’ll have the answer. I have this article printed out and memorized. It works.

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