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April 1st, 2011

Social media = ROI? Measuring your social media efforts

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"What is the bottom line and how will this benefit us financially?" remains one of the daunting questions that any social media manager faces when proposing a marketing plan to leadership.  To help answer this question, Chris Boyer (@chrisboyer), Director of Marketing for Digital Communications for Inova Health Systems in Falls Church, VA and consultant for over one hundred hospitals and health care organizations,  gave attendees at the #MayoRagan Social Media Summit a dynamic look at how to maximize your social media marketing efforts to boost the bottom line.

Chris defines social media as a two-way participation based on trust between patients and physicians. He stresses how building a loyal, interactive online community of interest allows for measuring ROI. Through various case studies, he illustrates how different organizations have identified and measured essential performance indicators of their social media campaign. 

To Get Started:

  • Build trust through social media by being relevant
  • Create a plan and negotiate ROI measurements
  • If you don't have a CRM, get one
  • Promote successes; learn from failures
  • The more data, the better

Here’s a video of Chris from the conference discussing ROI: http://www.youtube.com/watch?v=4py_b5nPlzw

What are your thoughts?

Tags: Metrics & Analytics

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