Odd. Very odd. Those are about the only words I can use to describe what it was like to read two different posts on ROI for social media at MarketingProfs.
Lewis Green, founder and managing principal of L&G Solutions, LLC, shares his post on The Real ROI of Blogging. A few minutes later, Beth Harte, a marketing, communications & social media consultant, posts Want to Figure Out Your Social Media ROI?.
One post points to specific objectives based on measures, such as client engagement, loyalty, referrals, and even sales. The other sets objectives too, but the objectives are all based on reach, such as the number of product mentions on Twitter and blogs. The difference? One sets its objectives to outcomes that represent tangible business returns and the other sets its objectives to measuring the reach of social media marketing.
While I appreciate what Harte is trying to do by asking questions and recommending a plan, communicators always have to be careful not to set the objective of a marketing campaign to be the exposure of a marketing campaign. That's as erroneous as public relations professionals counting column inches and media mentions and calling it a day.
The difference between conversations and outcomes.
When I spoke at G2E, the distinction was made clear by direct example. I had a brief Twitter conversation with Matt of CW Multimedia. But unless I visited his booth as I said I would, it was only a conversation. Simply put, visiting the booth was an outcome.
Since he was at a meeting with Zappos when I arrived, Kevin Stone, chief technical officer, had a conversation instead. His ability to explain their technology as it might pertain to my panel session on social media was an outcome. Mentioning how their mobile marketing technology might apply to social media during the session was a conversation. But whether any of those attendees choose to contact the company is the outcome. (Please note: none of this had anything to do with how many Twitter followers he had.)
The confusion between the two seems to be that various professionals are attempting to separate them. Obviously, assuming the conversation has a purpose (eg. inviting people to the booth), one cannot exist without the other if a company hopes to survive. As Amber Naslund points out: "You cannot calculate a return on anything unless you know whether or not your goals — and your definitions of both Return and Investment — are the right ones."
Or, maybe we can put it another way. If the number of conversations are the only measure, then Wal-Mart has the best communication program on the planet. As provable as that could be, the conversation is frequently skewed negative.
