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#Fridea: Using ROI in Social Media To Make Your Entire Company Happy

In Fri-deas, Social Media on July 13, 2012 at 3:17 pm

ROI is one of the hottest broads strutting its stuff on the social media block. Hopefully you know her–the one with nice big numbers in all the right places, and a lean routine to maintain this figure. What is ROI? It’s an initialism that represents “Return on Investment”. According to Investopedia, Return on Investment is:

A performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments. To calculate ROI, the benefit (return) of an investment is divided by the cost of the investment; the result is expressed as a percentage or a ratio.

Formula:

ROI’s application to social media is unique to the company and the company’s goals. ROI does not have to be measured in dollars, directly, either. There are four major sectors of ROI, according to @JerryAllocca, author of Connected Culture. I won a copy of his book today at the Fair Media Council Social Media Boot Camp. Here are the four areas:

  1. Financial
  2. Risk Management
  3. Digital Footprints
  4. Brand

The first key [to results and happiness] is to integrate your social media efforts into the bottom-line of the business. (Extensive research required.) Check out Basics for the Digital Marketer (Chris S. Penn). When integrating into the bottom-line, “social” efforts will inherently be integrated into the business’ funnel–helping to earn money. This can be measured, and this is why measurement is essential to success.

More on Measurement
Christopher S. Penn–@cspenn on Twitter–mentioned in his @Radian6 webinar Marketing White Belt: (1) people migrate, and (2) fragmentation. We are not static beings, especially in digital mediums. Constant testing, utilizing metrics, and measurement is necessary to validate your efforts.

“_ _ I” – what were the first two letters?
What’s more, the I in ROI is what sticks out to non-social media mavens. Be wary of “expert” rhetoric, according to Craig Yaris, Chief Social Marketer at EsquireTech Solutions. Promote and create understanding and openness, says Jeff @namnum and John Doyle (@14str8). The R is elusive, according to ROI social media panel at Fair Media Council events. To manage business interests and your happiness, define goals and agree to said goals with your organization’s silos.

My ROI: your feedback
What’s your experience with ROI? What metrics do you utilize to measure ROI? Be positive, be negative, be neutral! Just be you, and do your thing.

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#Fridea: If I worked for Google

In Fri-deas on July 6, 2012 at 3:14 pm

“Frideas” is a new category at Social Composition. Every Friday, I will publish an idea in the digital, marketing/PR, or communications field. Here is the first post:

If I worked for Google … I would create Google Note. This service, also called G-note, utilizes the “stylus” technology to create files that don’t have to necessarily be ‘inside the lines’. (You can stay in the lines if you would like.) The purpose of Google Note is to support your needs in writing and note-taking. To facilitate your creativity and left-brain structural needs. If you are like me, both are equally paramount. I envision a mixture of text fields and handwriting–that supports doodling as well.

I cannot speak for everyone but, for myself, the key to quality note-taking is: understanding what benefits your form most and ability to connect ideas in the best ways possible. I enjoy the speed of writing notes on a computer, but the free form that handwriting offers–to create implicit meaning and value–is unparalleled. With Google Note you can draw lines to indicate relationships, images to support data, etc. which is difficult to incorporate into your notes with a standard computer.

What happens usually is: you fall behind. You lose your rhythm and the fluidity of the notes goes bye-bye!

But why Google? The stylus platform is already supported in other programs.

Yes, it is–but not to the full extent of my needs. Many of the programs are oriented to suit the arts. Like Wacom Bamboo Tabletsbringing you exciting new ways to get creative.

I seek utility, here, to develop creative strategies and insight later. I can’t help but think the college crowd would eat this up. Google doesn’t have to stop there either.

They can incorporate Google Note into a cloud platform like Google Docs–for easy sharing and accessibility. Google Note is my idea for the day. I have some questions for you:

  1. Would you use Google Note?
  2. How would you use Google Note?
  3. Do you think Google Note would increase your productivity?
  4. What features or benefits would you add to this service, hypothetically?

Inside the Mind of TopherJRyan:
This idea spawned from a Google+ interaction with Gini Dietrich, CEO at Arment Dietrich. My guest post, How Instagram Makes Communities Better, hit the airwaves on July 3rd (2012) and I shared this on Google+. I called her comment a “G-note”. The rest is history.