Nov 27, 2012

Cool Tool: from HubSpot

ValueofaLike: Answering the question of social ROIIf your company is active in social media, chances are at some point, you had to sell the idea to someone higher up on the food chain.

And chances are that sales pitch involved some kind of promise of ROI.

And I’d be willing to bet that you’re occasionally asked how all that social activity is paying off in terms of revenue.

Enter, the latest tool from HubSpot‘s Social Media Scientist, Dan Zarrella.

I’ll let Dan tell you how this nifty free tool came about. In the HubSpot blog post introducing, he writes:

A while ago, in a HubSpot marketing team meeting, we were discussing how much we should be willing to invest to gain a new social media follower or Like, and I found myself at the whiteboard plotting out a formula. Over the course of the next few weeks — with the help of several of my geeky colleagues — I put together a formula to calculate a metric I call VOAL (Value Of A Like). Once you know your VOAL, you can plan your social media efforts with confidence they’ll generate a positive ROI.

Dan goes on to present the formula used to determine VOAL (check out the post if you feel the need to get your math nerd on), but thanks to his handy tool, knowing how it works is purely optional. Answer 6 simple questions—he even tells you how to find the info—and you’ll wind up with a solid VOAL figure to present to the higher-ups.

(Note: The image below is a screencap only; visit to try out the real thing.)

Screenshot of Value of a Like Tool

Simple, easy, and effective—everything a measurement tool should be, right?

Click on over and give a spin … then check back and let us know what you think in the Comments. We’d love to hear from you!

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Rachel Parker

A self-proclaimed geek who can recite entire episodes of South Park by heart, Rachel Parker helps businesses publish content that connects with their audience … and converts those followers into customers. She’s also the host of the Content Marketing Podcast and a sought-after speaker, having presented to many major business and marketing organizations.

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