The idea of social media ROI is both a blessing and curse for companies looking to make the most of the social sphere. On one end, if social media ROI could be proven it would unlock more funds, resources and personnel to be allocated for social efforts. On the other end, the nature of social media has a lot to do with relationships, human behavior and other intangible factors that aren?t easily given a dollar value. Personally, I?ve heard brilliant people make brilliant arguments for both sides, but instead of telling you my opinion, below are some of the best one line arguments for and against applying ROI to social media. At the end of the post tell us where you stand on the search for social media ROI using our SnapApp poll, ?tweet the argument that you agree with most, or add your own perspective using the hashtag #SnapDebate
Arguments for Social Media ROI:
to Shea Bennett of All Twitter
, ?64% [of brands] believe that social marketing will eventually produce a legitimate ROI. ?< Tweet this!
Harry Gold suggests
14 social ROI metrics you can use now, clearly it's provable and applicable!? < Tweet this!
Social media can show you the money (in ROI), and Eric Harr can give you 5 steps
to prove it. < Tweet this!
?Social media ROI [can be] proven for everyone who has enabled an effective measurement process. Adam Singer
?< Tweet this!
Arguments against Social Media ROI:
?If you are only focused on the money, you risk completely overlooking the people. Ted Rubin Return on Relationship?: The New Measure of Success < Tweet this!
Asking for social media ROI is like asking ?what's the ROI of your mother
?? - Gary Vaynerchuck ?< Tweet this!
Social media is a communication tool. ?70% of companies issue mobile devices yet ~0% track that ROI. Asking for social ROI is hypocrisy
. David Meerman Scott ?< Tweet this!
?The problem with ROI for Social Media is you are trying to put numeric quantities around human interactions and conversations, which are not quantifiable. ??Jason Falls
?< Tweet this!