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Friday, January 26, 2007

How to calculate the ROI of Blogging, and skypecast on social networking Jan 26

Forrester has published a report providing an approach to calculating the Return on investment on blogging. At his Micro Persusasion blog, Steve Rubel has given us a neat summary complete with table. The simple description of this approach is:

Take the cost of other means of creating the buzz, the pr awareness or the marketing outcome and use that cost as the number to assign as the "value of the blogging".

The ROI or return on investment is: Value of the blogging divided by the actual cost of having the blog

It's a start.

Lots more thinking to come about how to evaluate new media and social networking.

For my money, lifecycle valuation is the most complete approach to ROI. Any point ROI calculation ends up being a justification for an intuition someone has about what is the right thing to do. In the end, its the series of interactions over the lifecycle of the relationship that really make the relationship valuable. Activity Based Costing and Revenue forecasting is critical for getting this stuff right.

Upcoming event Jan 26 2 pm ET
that you might find interesting on social networking and community

Shared Insights starting a Skypecast series focused on leading companies leveraging community and social networks to improve their business. The inaugural Skypecast will be this Friday, January 26 at 2pm ET/11am PT:

Sylvia Marino, the executive director for CarSpace at Edmunds who oversees all aspects of design, features, business operations and strategy for CarSpace, the online automotive social network for car and truck enthusiasts. She is responsible for all consumer-generated content and interaction on three web sites that make up the Edmunds Automotive Network: Edmunds.com, Inside Line and CarSpace.

Join by going to: https://skypecasts.skype.com/skypecasts/skypecast/detailed.html?id_talk=294081 at 2pm ET/11am PT and clicking on “join this Skypecast.”

Must have a Skype account to join the conference!

The Skypecast will be recorded and posted on this site.

Visit the "News/Press" section of the Community 2.0 Conference site http://community2con.com regularly for a schedule of upcoming Skypecasts leading up to the event.

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