Mike Memos

The real question is to what extent are social media more or less valuable than other forms of marketing, service, sales, branding, public relations, and so on? We can—and should—find out. Piloting programs with precharted milestones or an end goal in mind allows us to compare and contrast performance at a campaign level and against other initiatives.

Quoted above is an excerpt from Brian Solis' recent article, "ROI Doesn't Mean 'Return on Ignorance'," appearing in BusinessWeek a few days ago. Brian takes on the idea that too many companies are diving into social media without thinking things through - taking the "spray and pray" approach as opposed to planning a strategic entry into the space.

The shotgun approach to social media can and will be chaotic. If you thought the internet was crazy before, wait until your brand is unleashed upon by the world's most social and hyper-connected users. When you don't have a clear goal in mind or an end-result in sight, you'll be floundering when your boss checks-in to see how the company's social media initiative is taking.

Tips for measuring the ROI of social media

The best thing for you to do is to approach social media as you would any other medium. Think about the audience, your approach, your expected outcomes, and the resources invested.

Ask yourself these questions: 

• Who is my target audience?
• How and where will I reach them?
• Once I reach my audience, what action do I want them to take?
• How can I measure the success rate of that action?
• What resources have I utilized to implement this effort?

If you can answer those questions about the social media initiative you are about to undertake, you can prove the ROI of social media.

Take a look at Brian's article and let me know what you think in the comments. Is he firing on all cylinders? Or is he missing something important?