Social Media ROI Pyramid
Web strategist Jeremiah Owyang uses his Social Media ROI Pyramid to get a grip on the different measurable elements of a Social Media Strategy. He uses three views for the ROI measuring process.
These three views consists of Roles, Metrics and Specific Data. The specific data consists of examples of the metrics. Usually, talking about ROI, is talking about Metrics. Owyang uses the internal Roles to link these metrics with the people or departments responsible for Social Media and the accompanied efforts.
The different Roles are:
- Community managers and agencies: At the operational level, it is important for this group to get a clear view on the engagement data, like clicks, fans, followers and retweets in the Social Media channel. These roles are closely connected to the market, so concrete information is necessary.
- Business stakeholders: The internal stakeholders worry about the conversion of the engagement data; are the Social Media actions really convertable and accountable? Good data can be used to convince higher managers with relevant management information. Examples of this information can be the share of voice or the word-of-mouth of Social Media efforts.
- Business executives: At the highest level, basic information about return-on-investment is needed to make informed strategic decisions. Next to the tangible information to base decisions on, reputation is another very important metric to get the company going, especially at the Social Media staircase.
Source: Jeremiah Owyang’s Blog