Social Media ROI
Margaret McCann and Alexis Barlow in the Caledonian Business School, and I are looking at the return on investment for social media along with a local company, NSDesign. The project is funded by the Innovation Voucher Scheme through the Scottish Funding Council and Interface.
The overall aim of this project is to evaluate practices used to measure economic value and return on investment (ROI) associated with business use of social media.
The objectives include:
- Review current literature on the measurement, economic value and ROI of social media
- Analyse current practice of measurement of economic value and ROI from use of social media with a range of SMEs
- Develop methods/framework and recommendations to allow businesses to evaluate the economic value and ROI from the implementation of social media.
Our first steps were to compile an annotated bibliography of current literature relating to ROI and social media use in business. This is available on our delicious account for this project with entries categorised and organised using tags, along with a short description of each entry.
An online survey of SMEs will gather data regarding current attitudes towards, the use and measurement of social media. If you own or work for a small/medium business, please complete our survey here. The results of the study will be published later in the year.
Our annotated bibliography has been published at SSRN, which is free to download and contains all the links and descriptions that arose from the literature search. The collection is freely available under a Creative Commons Attribution-ShareAlike licence which allows for third party commercial use.