0% staff turnover? 400% ROI? $ return? – Use social media says Deloitte Digital CEO

How do you measure an ROI on Social Media???

It’s not always easy to measure an ROI on Social Media, but, as a part of my interview with him in Sydney, Deloitte Digital CEO Peter Williams (@rexster), says:

“Generally being a firm of accountants we measure it based on how many dollars we get back and the answer is: a sh!tload.”

Hope you enjoy the interview! (There’s a text summary below it…)

In the interview I asked Pete 4 questions:

1. How and why does Deloitte use Social Media?
2. How do you measure its success?
3. What is your Social Media policy and why did you formulate one?
4. I loved your philosophy that “The price of entry is relevance.” – could you please explain this a bit further?

Without wanting to give away too much here are a couple of highlights:

3 measurables they’ve tracked:

1. Deloitte have dropped their recruitment agent fees to nearly zero using a Facebook app called “Join me at Deloitte” they developed for their employees.
2. Innovation program generates 400% return on investment per annum for technologies they’ve developed in-house
3. They have virtually 0% staff turnover of those that are frequent users of the Deloitte internal social media tool, Yammer.

They’ve also boiled down their policy (pdf) into a single sentence: “What would your mum say?”

How do you measure ROI for your social media?

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