Social Media Math

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How does it all add up?

It’s happening – companies in nearly all industries have climbed aboard the social media express.  From creating pages on Twitter and Facebook, to producing blogs and mobile media, and even communicating on Google+, none of us can ignore the impact of online networking. In fact, it’s becoming the new normal even if the tools might change on a weekly basis.

But what’s it all worth? While it’s easy to broadcast news to the world via text, tweet, or ping, demonstrating the value of a social media hit is another story. Digital marketing group Econsultancy reports that many companies still struggle to understand social media ROI. And for public relations firms, ROI is our BAB (bread and butter).  Not to mention 2012’s economic forecast is reportedly “cautious,” meaning every business will be scrutinizing budgets and value as the New Year approaches.

For years, the call has been out there to make social media a measured part of PR. Regular measurement of circulation and value will give digital networks their place in marketing plans and justification in budgets. Why not make it a goal for 2012? Numerous social media monitoring programs are emerging, both free (Klout, Google Analytics) and fee-based (Radian6) to help us calculate. It’s time to stop speculating about how social media placement measures up, and do the real math.

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