Good day Lithium crew,
I have come to the end of a successful blogging pilot and putting together the program results as well as my sales pitch to justify the costs.
I am showing quantitiative data like:
I am discussing qualititative benefits too:
I know the cost of a blog based on an Engineer's time to create and respond along with my time to manage, edit, and promote - is there a way to show ROI? How are you telling the C-suite what they are getting?
Thank you for your help.
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I believe I have an equation to show ROI.
Value = (# Metric) x (% Confidence Factor) x ((Cost / Incident)
For Metric I use unique blog views
Confidence factor is case deflection (10% - 30%)
Cost is how much does it cost to publish your blog (time to create, edit, publish, respond)
Happy to discuss in further detail.
I like your blog ROI thinking but that algorithm assume all blog posts are of a technical "How do I" style.
In looking at our blogging effort it would be more like this:
Value = (# Metric) x (% Confidence Factor(N- CaseStudyBlogs+ AnnouncmentBlogs x ((Cost / Incident)
Where N = Total blogs published
CaseStudyBlogs= Case Study type blogs (assuming these are 0% deflection)
AnnouncmentBlogs= Blogs that are announcing new features, webinars etc
On a related topic, how do you calculate forum ROI?
Since most of our Lithium site is forums, it seems like CHI would be a natural fit.
Unfortunately in digging into the metrics CHI uses resolution doesn't even seem to play a part.
So while our CHI is going up our answer rate/case deflection is going down.
Which begs a larger question of the value of the CHI metric over an NPS, WOMI or an NSAT.
Since CHI isn't documented therefore not reproducible on other Microsoft web properties or Uservoice i can not compare the values to see if any changes are temporal change or a response to something we have done.