{"id":1131,"date":"2023-03-01T17:56:03","date_gmt":"2023-03-01T17:56:03","guid":{"rendered":"https:\/\/www.bursucretleri.com\/blog\/?p=1131"},"modified":"2023-03-01T17:56:03","modified_gmt":"2023-03-01T17:56:03","slug":"vitrue-facebook-roi-calculator-social-media-snake-oil","status":"publish","type":"post","link":"https:\/\/www.bursucretleri.com\/blog\/vitrue-facebook-roi-calculator-social-media-snake-oil\/","title":{"rendered":"Vitrue Facebook ROI Calculator = Social Media Snake Oil"},"content":{"rendered":"

Ever seen those apps that show you \u201chow much your website is worth?\u201d\u00a0 They\u2019re sort of fun, except no one\u00a0actually<\/em>\u00a0takes them seriously.\u00a0 What if you applied that same concept to a Facebook page?\u00a0 It would make just as little sense and be equally as silly.<\/p>\n

You see where this is going.\u00a0 Remember that company Vitrue who attempted to create a\u00a0valuation of a \u201cfan on social media\u201d\u00a0at $3.60 each? They actually\u00a0put together an app\u00a0\u2013 named \u201cThe Evaluator\u201d that calculates the \u201cvalue\u201d of your Facebook page.<\/p>\n

At first I thought it was a joke, but they\u2019re taking it rather seriously, adding the tagline: \u201cmeasuring facebook return on investment.\u201d\u00a0 Except \u2013 it\u2019s total\u00a0snake oil\u00a0and makes me take their real product and team that much less serious.\u00a0 They continue to propagate flawed notions of how the social web provides value to brands.<\/p>\n

The way the app calculates is as follows:<\/p>\n

The Vitrue Social Page Evaluator (SPE) uses a calculation that factors in fan count, customer activity, brand activity, and a proprietary engagement multiplier.<\/p><\/blockquote>\n

Yes folks, it\u2019s that simple to calculate the ROI of your Facebook fans.\u00a0 Take one part number of fans, throw in some consumer activity, brand activity and a \u201cpropriety engagement multiplier\u201d and there you have it.\u00a0 Why not add a dash of fairy dust?\u00a0 In fact, they don\u2019t even need to know anything else about your brand, your industry or any other details \u2013 just the public information from Facebook.\u00a0 It\u2019s that easy.<\/p>\n

The data represents a monetary valuation of a single Facebook page based on standard digital marketing metrics, impressions, and fan exposure. The score includes a configurable cost per thousand impressions (Earned Media Value) measurement that defaults to $5.<\/p><\/blockquote>\n

You heard it from Vitrue \u2013 it\u2019s based on \u201cstandard digital marketing metrics\u201d \u2013 so it must be true.\u00a0 And yet again just as they did previously, the measurement defaults to their random choosing of $5 without any\u00a0real<\/em>\u00a0rationale.<\/p>\n

In a\u00a0blog post interview, Reggie Bradford, Vitrue CEO makes some statements about the app:<\/p>\n

The Evaluator shows an actual media value, truly putting an ROI on social media efforts. It\u2019s beneficial in many ways, especially showing people in your company that social media is important, valuable and that they should pay attention. We\u2019ve had several marketers try out the Evaluator and thank us for finally providing a tool that actually shows an ROI, proving social media\u2019s importance.<\/p><\/blockquote>\n

Sorry to say this, but if you are a marketer and you\u2019re proving the value of social media through \u201cThe Evaluator\u201d you\u2019ve already killed your credibility with anyone at your company with a shred of digital marketing chops.\u00a0 If you have none, congrats, you\u2019re officially a huckster.<\/p>\n

We developed the Evaluator to help provide a marketer directional and quantifiable information. But increasingly marketers can and should derive their strategies based on solid data, which is what we do here at Vitrue.<\/p><\/blockquote>\n

You can see the irony here, and the fact their own CEOs talking point kills their brand\u2019s credibility.\u00a0 He says in the same sentence that:<\/p>\n