The spreadsheet is downloadable at http://dagholmboe.wordpress.com.

I am a firm believer that running a business, you need to define an ROI in basically everything you do. Some people might argue that Social Media is different and that calculating and ROI is impossible. There is some justification to their arguments - after all, how do you quantify engagement or sentiment? Nevertheless, it is simply not correct that you can not define an ROI.

The problem with Social Media ROI is that it is difficult to define however Li and Johnston have done a great job defining it. My spread sheet is simply just an extension of their work.

I want to discuss point number 3 a little bit. I think that on-line events actually facilitate relationships better than face-to-face activities. Let me explain this. You brought up a good point that “no one ever got married as a result of participating in an online dating site based solely on that experience”. But let me relate an experience that illustrates how on-line technology facilitates relationships better. I know a couple that got married after meeting on-line. When they met they discovered the lived in the same neighborhood, went to the same restaurants, etc. for over 10 years and never crossed paths. On-line events with a proper networking component operate the same way as dating sites. Many people go to face-to-face events and never meet just the right contacts. It can be difficult to do. The problem with face-to-face is that there can be just too many faces. However, on-line you have the ability to search and seek out other attendees based on specific criteria and form relationships with those that most closely match your needs.

I have been producing face-to-face events since 1983 and on-line events since 1996. In that time I have seen virtual event technology grow more robust and cheaper. But there is still a missing link between application and success. Strategy.

Richard Feldman, CEO
EventPlanet.com