Social media tools are (in general) free, but are they worth it? Even free tools take time and other non-financial resources so this is an important question to ask.
In a previous post, I shared a comment that in terms of social media, ROI is perhaps best defined as “Risk of Inaction.” You just can’t afford to ignore what is going on in social media about you and the topics that you care about.
The Nonprofit Technology Network (NTEN) has posted an excellent piece on the ROI for social media that adds more detail on this issue: http://nten.org/blog/2008/01/11/the-roi-of-social-media Take a look. In addition to great insights for non-profits there are links to resources for all types of organizations.
If you haven’t defined your social media ROI, you now have a great place to get started. Don’t forget to come back here and post reflections from your effort or stories that illustrate the ROI for your organization.