I was just reading a blog by a social media and marketing teacher and he used a term, Return on Conversation, that he then seemed to dismiss. But I am curious if there is a way to measure return on conversation in social media. I do agree with his point that ROI for social media is probably pointless because a lot of social media can be done for free (with the exception of manhours). Does anyone thing they could come up with a formula to measure return on conversation?
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To measure return on conversation in social media is massive challenge, I hope you'll need key performance indicators for each module to track the conversation like if you've developed few apps for specific social module. you can be able to track users and their engagement with that applications.
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I actually developed a metrix grid for measuring various social media. The metrics were more qualitative in nature but I tried to make it somewhat quantitative and universal.
Numbers of Members
# Number of Contributing Posts
# Number of Revisions
# of active members
Feedback/Comment on Blog
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