subject: Measuring Social Media - TiYo [print this page] Measuring Social Media - TiYo Measuring Social Media - TiYo
A recent survey found that over 8o% of social media programs don't measure return on investment (ROI). It indicated that a lot of individuals and businesses would like to be able to measure the ROI of their social media strategies and campaigns, but they don't know where to begin.
Companies and executives are beginning to really jump on and get heavily involved in the social media bandwagon, which is fantastic. However, for social media to fully work and benefit all parties involved, businesses and brands need to be able to evaluate the impact their social media use is having, both positive and negative. Measuring social media 'Return on Investment'' isn't unmanageable, but it can be challenging because many of the pieces that need to be evaluated can be difficult to track. This article is designed to show you the method on calculating ROI and introduce you to the world of TiYo.
In its basic form, ROI is pretty basic, ROI = (X - Y) / Y, where X is your concluding value and Y is your initial investment. This mean, if you invest ?5 and get back ?20, your ROI is (20 - 5) / 5 = 3 times your initial investment. In the financial sense, ROI is measured in monetary terms, however, the principles can apply to any type of investment.
Having concrete goals and concrete baselines is crucial to calculating your return on investment. So before you set out to measure and monitor your social media returns, you need to have a clear idea of what it is you want to accomplish.
Once you have understood your goals, you need to measure the baseline for your levels before starting or changing your social media strategy. For example, if your goal is to increase social media mentions of your company, in order to measure the ROI of any actions taken toward that goal, you need to know where you stand to begin with. You can't evaluate the ROI accurately without a baseline.
Tiyo (This is You Online) is a service that enables users and companies to manage, receive advice on, and grow their online presence in a way that is rewarding. The company was formed in 2011 and has the strong backing and involvement of experienced social media experts who want to give the companies involved, control over their own marketing. Tiyo is focused on providing analytics and a wide diversity of potential leads for their customers, and aims to provide industry based high income individuals as well as lower income individuals.
Tiyo's concept has been described as "A Social Media Management system in a box". The system is being released Mid 2011 but in the meantime visit us on Facebook to learn more, when viewing us on Facebook hit the 'Like' button to keep informed!
