Denver Social Media: Defining and Measurement of Social Media ROI

Mike Hanbery - 8.24.2011 11:35 AM

On Friday, August 19, 2011, Denver's premier Social Media for Business group welcomed over 100 business leaders to the new South Metro Chamber of Commerce Center, enjoyed peer networking and breakfast fare from My Favorite Muffin and Peet's Coffee Southglenn and generated group discussion focused on measuring Return on Investment (ROI) from social media.

Highlights of the discussion included thoughts on a matrix used to determine ROI .

• Reach / Exposure – Brand Awareness (Opportunity)
• Visits to Your Website
• Phone Calls / Emails / Submissions / Purchases
• Conversion Rate - Quotes or Sales
• Average Sale Price
• Average Lifetime Value of a Customer
• Your Spend

Here are some comments we received:

"Great meeting to really draw our attention to the importance of what really constitutes social media, how much time we spend on it and how to determine whether it is worth the effort." - Bill C.

"Outstanding topic and audience engagement." - Veronica C.

"This meet up is amazing! I always learn something at every meeting. I love the sharing and the community that has developed." - Stan S.

Check out these tips from our tips groups

• Be Engaging on Facebook
• Bit.ly link tracking basics
• Social Media ROI Tips

Videos by Dale Honning chronicle the event and are available on the Webolutions Facebook Page.

Do you follow the group on Twitter or Facebook? Recent posts from group members there keep you connected to the group in between monthly meetings and up to date on topics including Social Media ROI and Google+. Please connect and contribute!

The entire business community is welcome! Join us at these upcoming events:
Friday Sept 16 – Creating a Social Media Action Plan
Friday Oct. 21 – Effective Listening to Social Media Channels

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