Is Social Media right for your business?
A little over a year ago, the head of digital at a major cultural institution here in New York requested a presentation on the ROI of social media activities. Based on that work, we went on to develop a free online social media calculator. Many users absolutely loved it while a few others snarked it as being irrelevant. That particular calculator was developed from the work for a certain client, and was most certainly not usable by just anyone. What I’d hoped was that it would provide a framework for approaching the problem of determining whether the cost of social media would provide return to the organization. Over time, I’ve considered the work from different angles including how the value of social media can play a part in Customer-based Corporate Valuation. Here are some major points about determining ROI for Social Media: (more…)



