{"id":730,"date":"2016-06-30T15:19:39","date_gmt":"2016-06-30T05:19:39","guid":{"rendered":"https:\/\/www.socialstatus.io\/?p=730"},"modified":"2022-09-07T23:30:31","modified_gmt":"2022-09-07T13:30:31","slug":"social-roi-framework-solving-social-reporting","status":"publish","type":"post","link":"https:\/\/www.socialstatus.io\/social-roi-framework-solving-social-reporting\/","title":{"rendered":"Social ROI Framework: solving your social reporting"},"content":{"rendered":"

The Social ROI framework is designed to help marketers measure, benchmark and clearly communicate the value of social \u2013 using a 50-year-old model.<\/p>\n

(originally published on Marketing Magazine<\/a>)<\/em><\/p>\n

Last year, our friends at Buffer outlined a list of the \u201961 key social media metrics\u2019. While it was a comprehensive list, it highlighted the number-one challenge existing in the marketing community today: how do you\u00a0quantify the business value<\/strong> of social media?<\/p>\n

<\/h3>\n

The problem<\/h3>\n

Today, social ROI remains an elusive concept to describe and communicate in most organisations \u2013 but it shouldn\u2019t be. With real-time metrics and high performance tracking, why isn\u2019t it effortless? Why don\u2019t we know the answer to the ROI question?<\/p>\n

Tech advancements, such as Facebook\u2019s Pixel, have enabled us to measure and track all the way through the marketing funnel, but we\u2019re now swimming in an ocean of metrics. This is Facebook\u2019s ad reporting options screen, circa June 2016:<\/p>\n

\"Facebook<\/a><\/p>\n

There are no less than 231 reporting data points. While this is fantastic if you\u2019re a data scientist, its completely overwhelming if you\u2019re one of the 50 million businesses using Facebook.<\/p>\n

Beyond Facebook, the problem is complicated exponentially across multiple social channels. All the social channels conveniently define \u2018standard\u2019 metrics in different ways. For example, Twitter\u2019s engagement rate is calculated differently to Facebook\u2019s. So when trying to compare apples with apples you usually end up with a fruit salad.<\/p>\n

The solution<\/h3>\n

SocialROI.org<\/a> is an initiative founded with the goal of open-sourcing a framework for measuring and reporting on social media performance.<\/p>\n

The Social ROI framework is based on the traditional marketing funnel, first used in the 1960s. Why rely on a 50-year-old funnel to measure social media? Because it provides us with a universal language for communicating the value of social that anyone in an organisation can immediately understand.<\/p>\n

\"Social<\/a><\/p>\n

Six pairs of metrics are used which relate to each part of the funnel, from \u2018Reach\u2019 at the top of the funnel through to \u2018Action\u2019 at the bottom. Each pair consists of a total count and a rate pairing. For example, at the \u2018Interest\u2019 section of the funnel the Interactions metric communicates a total count and the engagement rate metric communicates a percentage of the interactions against the reach. These metrics are inherently cross-channel compatible because they\u2019re based on primary interactions.<\/p>\n

Primary interactions by channel:<\/h3>\n