ROE – Return on Engagment
Posted by TeamITI on September 28, 2008
Of course, in everything we do as marketers, we are looking for ways to measure results and document our Return on Investment. Metrics such as website impressions, unique visitors, click-through rates, CPM (cost per thousand impressions) and conversion rates have dominated the discussion.
Now, with the continued growth in social media components, this topic has been turned upside down. How do you measure your engagement with your audience in the realm of social media? A new term was born: Return on Engagement.
Patrick Schaber discusses some good insights on the evolution of measuring social media initiatives in business. Most importantly, he says, do not isolate social media, but instead position social media as a component of your overall marketing plan. If you engage in print advertising, you’re used to making the case that print advertising is a branding component that is used to support your overall marketing messaging. Like social media, the ROI from print advertising is very hard to measure. Social Media should be one medium you’re using among many in your communication with your audience and customers.
He predicts that within 2 years, there will be measurements in place to measure the “Return on Engagement”.
