How Valuable Are We? Calculating Community ROI
As SCN members, you probably already have your perspective on why the community is so valuable. In fact a lovely example was recently shared by Eng Swee Yeoh The True Value of a Community. When we talk about proving the business value to our executive stakeholders, some of you scratch your head and ask “what is there to prove?”
But every good businessman and businesswoman knows that you have to be able to provide your value in business terms if you want to continue healthy investment.
As we approached delivery of our value proposition in terms of return on investment (ROI), we came across challenges of being able to measure community interaction as resulting in business impact. So we searched the internet for other examples and came up with little that could help us.
We’re happy to let you know that there is now a source of support for calculating business value of communities. In her post Prove it or Lose it – Demonstrating ROI of Online Communities, Jeanne Carboni talks about our collaboration with FeverBee to develop an eBook that provides the why, what, and how for communicating this value.