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How do you determine the ROI of a social CRM strategy?
It's pretty easy to determine the ROI of a CRM system, but how about a SCRM system? How can social media features be calculated in the overall ROI? What tips do you have to determine the ROI of a social CRM system?
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2 Answers
Cindy,
One of the realizations coming out of social ROI analysis is the margins for social programs can be quite high for well-designed and implemented social strategies.
Additionally, the ROI potential can be multi-dimensional and cross departmental functions, depending on the scope of the initiative.
My briefing, referenced by Michael's link, dives into the ROI methodology to give you the kind of leg up you're seeking.
Cindy, good question. Focus.com recently published a briefing by expert Kathy Herrmann on this topic entitled,"The True Value of Social Business." You can access it at http://www.focus.com/research/research-briefings/crm/true-value-social-business/.
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