Google Joins HootSuite and Adobe in Attempting to Quantify Social Media ROI

Posted by Techvibes NewsDesk

Google has launched new social reports that aim to quantify the return of investment of social mediaPhil Mui, Google Analytics group product manager, says that Google wants to "tie social activities and referrals to measurable, meaningful economic value so businesses can more effectively evaluate which social channels are impacting their bottom line, and which tactics will lead to measurable economic value."

But Google isn't the only one attempting this. Vancouver startup HootSuite partnered with Adobe recently in an effort to accomplish the same goal.

Calculating social media ROI is currently considered impossible by most, but that's not stopping anyone from trying. With the continued momentum of businesses using social networks to drive customer engagement, boost sales, and enhance reputations, successfully quantifying the return in value of, say, a tweet, would be tremendously useful.

Who can crack the nut first?

Company:
Adobe
Website:
http://www.adobe.com
Location:
Seattle, Washington, United States

Adobe helps people and businesses communicate better through its world-leading digital imaging, design, and document technology platforms for consumers, creative professionals, and enterprises. Adobe’s platform-driven approach is focused on providing more complete and innovative solutions for each of its customer segments than ever before. With its digital imaging and digital video software products, including... more

Company:
Google
Website:
http://www.google.com
Location:
Waterloo, Ontario, Canada

Google's mission is to organize the world's information and make it universally accessible and useful. As a first step to fulfilling that mission, Google's founders Larry Page and Sergey Brin developed a new approach to online search that took root in a Stanford University dorm room and quickly spread to information seekers around the globe. Google is now widely recognized as the world's largest search engine --... more

Company:
Hootsuite Media, Inc.
Website:
http://www.hootsuite.com
Location:
Vancouver, British Columbia, Canada

Hootsuite is the world’s most widely used social media relationship platform. More than 10 million users, including 744 of the Fortune 1000 companies, trust Hootsuite to manage their social media programs across multiple social networks from one integrated dashboard. Learn more about how Hootsuite is revolutionizing communication at http://www.hootsuite.com. more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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