Zibaba

With all the talk about Twitter, Facebook and other social networking tools being the new revolution in marketing, I’ve been thinking about what tools are out there to measure ROI in consumer driven marketing (CDM) efforts. AdAge conducted a study on measuring ROI in Facebook, MySpace and other social media marketing efforts. Another blog (Never Stop Marketing) discuses another theory on how to measure the ROI of social conversations by using an equation to calculate the number of net promoters your brand has. An expert panel made up of Jeremiah Owyang, Charlene Li and Peter Kim presented at Web 2.0  in NY about how they think social media marketing is failing (a great summary written by Jennifer Leggio of ZDnet can be viewed here). Owyang, a web strategist and analyst at Forrester Research, feels that companies are measuring social media wrong because you can just measure clickthroughs. How do you aferall measure conversations or tone? More good takeaways from this panel: don’t let social media efforts sound like rehashed press releases, get top level executives involved, make sure social media is part of long term business strategy, figure out by what standard you are going to measure effectiveness.