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About Rich

  • Richard Millington is the founder of FeverBee, a community consultancy and Professional Community Management course. Richard is also the author of Buzzing Communities: How To Build Bigger, Better, And More Active Online Communities. Richard's clients have included Google, AutoDesk, United Nations, Novartis, Wikipedia, Oracle, The World Bank, Novartis, Fidelity Investments, and many more. Richard is also the the author of the Online Community Manifesto.

    e-mail: richard@feverbee.com
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Comments

David Historian DeWald

In the example for the Social Media Manager, it fails to give a value on how much business they retained through customer service and support that might have been lost without a social presence.

As much as people try to tie a Social or Community individual to ROI, there are other factors that they can bring that add value for company that are not always quatifiable in dollars and cents.

Richard Millington

David, it's an example.

I believe pretty much everything is quantifiable, most people just don't try to quantify it.

For example, since what is the retention rate of customers since they joined the social media platform? Is it higher or lower? What is the value of that increased retention. Divide that by the cost of the community.

What happens if you stop doing any social activity for a month? Is there a noticeable difference in purchases? Do more customers leave? Do people that got service online buy more frequently as a result? By how much?

It's all quantifiable.

John Norris

I wonder if some of the less direct ROI is only traceable over a longer period of time. Perhaps longer than management typically track events, or wants to wait.

Quantifying ROI is important work, and the more folks looking deeply into it the better...so thanks!

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