Working the web: Why intangible ROI matters Richmond Times Dispatch I'm a numbers guy. I love when numbers can tell an interesting or insightful story. This is where my passion for web analytics comes from.
Wilf ILIFFE's insight:
...and here's another point of view on ROI in the web space
"As an experiment, I immersed myself in social media for the past three months. I started this blog, joined Twitter, LinkedIn, Google+, bought a domain name, and posted on Facebook for the first time in years.
Even within this short period of time, I reaped tangible benefits: I interacted with top physicians from across the world, kept up with the medical literature, participated in discussions with patients about how how rheumatic diseases affect their lives, joined webinars about improving the patient experience, and provided educational information to physicians and patients about autoinflammatory diseases, my clinical interest.
Social media has changed the way that I think about and practice medicine, and it’s only been a few months"
While Social Media treats ROI as a mostly mythical creature that people like to read about in hypothetical scenarios, real-life companies are struggling to actually track the ROI of their social media marketing efforts. Consider these statistics that NectarOm (Nectar Online Media) published in a recent study in collaboration with the Socia Media Clubs:
Out of 400 people surveyed, 73% do not even track the ROI of their social media efforts.
Of the people who do attempt to track the ROI of their social media marketing efforts, 46% said it was not a major driver of revenue.
Let’s think about this in the context of the InfiniGraph e-book. They suggest that a single campaign may involve a company spending $5,000 in Facebook ads. Based on the NectarOM study, most companies would not even make an effort to track the return on that $5,000. The companies that would track the investment would, for the most part, find that their ROI was poor return....
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