Members = Money

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In the business world, nothing gets the attention of a CEO or CFO quicker than the words Return on Investment (ROI). There are two forms of ROI, soft and hard, and when implementing a social media campaign both are beneficial.

Soft ROI is not quantifiable in dollar amounts. To measure soft ROI in a social media campaign, companies should focus on things like: tags, likes, posts, friends, comments, site visits, etc. Hard ROI, on the other hand, is measured as how much money a company can expect to earn from the campaign.

An organization like the YMCA, whose focus is primarily on engaging and improving the community, social media is becoming more useful every day.

In most communities it is safe to say that the majority of people are engaged in social media of some sort. The YMCA can use this to its advantage by using social media to accomplish a number of its goals.

The goals of a social media campaign for the YMCA should be:

  1. Raising awareness about programs and services.
  2. Engaging more people on social media channels.
  3. Inform online community about scholarships and stories.

As different modes of social media are introduced to the YMCA community, the impact they have can be measured through both soft and hard ROI.

As I mentioned before, the soft ROI can be measured as how many followers, likes, posts, positive comments, etc. are counted throughout the campaign. These numbers are important to an organization like the YMCA because they focus on improving the community. Not to mention, they can lead to hard ROI measures like increased membership sales, member retention, customer satisfaction, etc. All of these can be presented to the company directors and CEO to prove that social media can positively impact their bottom line.

Slide Show:

<div style=”margin-bottom:5px”> <strong> <a href=”https://www.slideshare.net/SidneyGeldmeyer/social-media-roi-31389681&#8243; title=”Social Media ROI – YMCA ” target=”_blank”>Social Media ROI – YMCA </a> </strong> from <strong><a href=”http://www.slideshare.net/SidneyGeldmeyer&#8221; target=”_blank”>Sidney Geldmeyer</a></strong> </div>

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3 Comments

  1. Hi Sid,
    First, great graphic depicting the reach of a message, post, update, video or audio. This really pulls the reader to read your post and see how is the graphic relevant to your content (what you are about to share).

    Second, as always I have my favorite pull quotes. For this particular post it is the following:

    “Not to mention, they can lead to hard ROI measures like increased membership sales, member retention, customer satisfaction, etc. All of these can be presented to the company directors and CEO to prove that social media can positively impact their bottom line.”

    The above pull quote demonstrates that you now know what needs to be and can be measured to convert to hard ROI or as you would say money. Although you pointed out in the bullet points what the YMCA should be measuring, you have clearing indicated that all of these “soft non-tangible touch points” at some time need to equate to dollars ( increased memberships, member retention ( re-enrollments) customer satisfaction ( re-enrollments) and increased donor support.)

    Very nice post.

    Like

    1. Thanks for the feedback Cd. To be honest, this was a pretty challenging assignment in my opinion. I really enjoyed digging up the information on how hard ROI can be drawn out of a social media campaign.

      One thing I had a question on is how much are companies typically investing in social media? Aside from paying the staff or community manager who coordinates it all and can’t all the sites and even things like Hoot suite or Tweet deck be used for free?

      Like

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