Social Media ROI

I think there are two important things that one needs to keep in mind while approaching social media ROI
  1. Setting up an ROI framework to track and calculate SM ROI accurately. This is absolutely necessary to optimize channel/media-mix and to achieve high ROI. But before this happens, you need to
  2. Get a buy-in for SM investment in the first place - perhaps by showing SM ROI of other companies. This approach requires building a convincing business case and backing it up with solid data.
I've spent quite some time researching contemporary literature on Social Media ROI and have found plenty of resources dealing with the first aspect.  However, I'm yet to see any good resource which deals with the second aspect. Yes, hundreds of case studies about social media marketing success are available online but the data in these case studies is unstructured. We need massive amount of structured data to build correlation models. 

Lack of such historical ROI data is probably not a problem for big companies but in smaller companies, the SM investment decision is solely/mostly driven by this historical ROI data.  I know that in order to encourage companies to invest in social media, a lot of social media evangelists/agencies are working on designing Social Media ROI frameworks. That's great but how about consolidating and structuring data from existing case studies to arrive at some rough ROI estimates. I think if someone takes this initiative and makes these figures available, it'll go a long way in encouraging companies to invest in social media.

I'm planning to update this post with resources that contain structured data about social media ROI. Will really appreciate if anybody wants to help.

Interesting conversion rate data - not really social media but an important resource nonetheless.

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