Measuring Social Media ROI
ROI = ROE + New Non-Dues Revenue + Increased Dues Revenue
Return on Engagement (ROE) - The Math is Easy!
Your social networking return on investment (ROI) will include an important new aspect — Return on Engagement (ROE). Calculate your ROE by measuring key activities in your private network. You determine what performance indicators are important to your association. Assign point values to key performance areas and receive real-time reporting, so you know where and when your members are most engaged.
Important ROE activities include:
Blogs - How many were posted, number of comments and ratings?
Profiles - How many participants updated their profiles to include photos and professional interests so others can search and find them?
Shared Files - How many documents, videos and other resources have been uploaded to share with other community members?
Community Discussions - How many people are participating in your communities, did they form new communities of interest and how active are the threads within these discussion?
New Non-Dues Revenue With Advertising
Leverage existing advertisers and attract new sponsors to showcase their products and services on your community site. Advertisers will quickly see the benefits by reaching your most engaged and active members and communities. The new advertising revenue can cover your Connected Community fees so the community pays for itself! To make it even easier, Higher Logic offers a turn-key advertising service to save you time and expand your reach of advertisers.
Increased Dues Revenue
Offering members new ways to interact, communicate and share increases your organization’s value and creates a more successful, long-term member relationship. Our mission is to allow associations to achieve higher renewal and retention rates and increase real revenue dollars.