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« Social Media ROI Has Come of Age, Says Society for New Communications Research| Tekrati Research News | Main | Is it the end of Market Research as we know it? »

April 28, 2010

There are more important metrics than ROI

Love this quote from the new CMO at Dell from her interview in Adweek


Can social media scale and be measurable?
I think it can and has to. We have 2 billion conversations online a year. If I can't scale to the requirements, I can't continue to be a thriving business because that's increasingly how customers are shopping and engaging. It's not even an option not to scale, but it's to figure out how to do it around the customer. We're less focused right now on attributing ROI to everything we're doing. We're focused on "does it enhance the customer experience?" Does it look like revenue and profit are following? I'm less interested in measuring cost per contact. I know engagement with a fan on Facebook is a really good thing. I don't measure if that shortens the sales cycles. The things I can measure I feel great about. Those I can't I'm not losing sleep about.

via www.adweek.com

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Ashwani

It is an interesting quote for sure. Bit I still feel that it is equally important to engage customers, to know their feedback, etc. This will help a brand in the long run.

Posted by: Ashwani | May 25, 2010 at 02:18 AM

Don Bartholomew

I like and agree with this too, Katie. Nice to see some realism and pragmatic thinking with respect to measurement. While being able to demonstrate ROI is incredibly important in some cases, the vast majority (90%?) of all PR and social media programs do not have revenue generation, cost savings or cost avoidance as their objective. Therefore, the primary metric/KPI should not be ROI. If, for example, the primary objective of a social business campaign is to increase brand engagement, measure that, not ROI.

The other issue Ms. Nelson alludes to is the difficulty in value attribution at a micro level. There certainly is a cost/benefit trade-off to be considered. As others have said before, the ROI on some ROI efforts is not great.

-Don B @donbart

Posted by: Don Bartholomew | April 28, 2010 at 03:50 PM

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