Is Social Media ROI a Ridiculous Concept? (CONVO)

Dennis Yu, CEO, Blitzlocal

According to Dennis Yu, CEO of Blitzmetrics, if you want to measure social media ROI, you have to measure impact across all channels.

In other words, you have to allocate credit to the product itself, your offline marketing, the power of your retail stores and everything except Facebook itself.

In this conversation, Dennis and I explore how to assess the effectiveness of social media marketing in the current absence of measurement standards, the often false attribution of purchases to buyers’ last measured action and other topics related to the complexity of assigning metrics to word-of-mouth marketing.

What do you think? How are you measuring the success of your social media advertising and marketing?

Here’s the sales funnel to which Dennis refers in the latter half of the conversation on social media ROI:

Tweetables

Care to share this convo with your network? These excerpts are ready for you to tweet!

Click to tweet: “Frameworks for measuring social ROI as it relates to other channels from Dennis Yu”

Click to tweet: “Are there ways to measure the incremental contribution of social to your sales?”

Click to tweet: “Is social media ROI a ridiculous concept?”

Click to tweet: “Facebook potential is activating lovers of your brand to market on your behalf”

this convo is sponsored by

Convo at the PowWow is presented by Social Media Today, offering the Web’s best thinkers on business and public policy. Social Media Today is a rapidly-growing community of blogs, webinars, e-books, moderated Tweet chats and other digital content. The community currently includes more than 1,800 bloggers and 100,000 registered members, attracting about 700,000 monthly visits.

Vitrue, an original Facebook Preferred Developer Consultant, is the leading social marketing platform facilitating relationships between brands and their fans across multiple social networks via its software-as-a-service solutions. Social marketers and agencies world-wide use Vitrue’s Social Relationship Management (SRM) platform and its Publisher, Tabs, Shop and Analytics products.

Brandwatch is one of the world’s leading social media monitoring and analysis tools, with offices in the UK, US, Germany and Brazil. Global brands and agencies use our tool to cut through the noise on the social web and find the conversation that matters, empowering decisions that improve their business.