Media expert witnesses may opine on mass media, music, television, and social media. In No “R” in Social Media Tom Morse, Media Communications Association Central Carolina Chapter President writes:
Even without use of spell checker, I know there isn’t an “R” in social media. But, communications professionals need to understand the return, and how they will evaluate the return, on investments in social media.
Measuring ROI for social media is part of the job. Social media is about more than just engagement and awareness. While social media is at the top of the sales funnel, there are still many ways to track and evaluate the return on investment. The process should begin with an agreement on how the organization will define the “R” in ROI is it awareness, leads, conversions, sales? Evaluation of social media is less about what can be done than what should be done. Identify the evaluation criteria, and then secure agreement with sales enablement and business executives on how social media will be evaluated. At this point in our understanding of social media, the criteria will be different from other activities such as advertising, trade shows, or speaking engagements. But, establish some criteria and process for assessing the payoff on investments in social media.
Read more: http://www.mca-i.org/