If you are doing social media programs, you may be witnessing your customers making purchase decisions based on what other customers write in reviews or clicking on your deal links in Twitter. You may be seeing that the sentiment towards your brand went from being negative, to now more favorable because you are reaching out to unhappy customers and making things right. You might be gaining share of voice online over your competitors or seeing that customer advocacy for the brand is building online with key influencers and brand advocates.
Whether you fall into the first or second group, the issue of justifying the business case for social media is the question. How would you justify what you want to try or are currently doing? How do you ask for a budget for people, process and technology? How do you speak intelligently about a field where people are comparing the ROI of wearing your pants to the ROI of social media? A new white paper by Dr. Natalie Petouhouff, UCLA Director and Professor of Social Enterprise, ROI of Social Media: Myths, Truths, and How to Measure, will show you how to determine if your social media initiative is providing value to your organization.