Every company, every marketer often dwells on the ROI for social media, and there’s a popular misconception that relevant metrics are lacking. While it’s true that standard metrics are evolving, there are many ways to measure the impact of social media on a company’s marketing performance.

If the company is going to achieve and maintain a brand value using social media, it will need to first understand the company’s stake in the marketplace and the value it offers to its customers. The value proposition is all about the customer. What matters to them and how you can deliver value that differentiates you from your competitors.

Many marketers stepping up to embrace social media are bringing their old “push strategy” skills to a new “customer pull” reality, making a critical miscalculation. The social media phenomenon is not just a new set of communications vehicles for your company to broadcast its value proposition and messaging to a target market. It is about customers wanting and needing relevant information to make better decisions and to share with others. Over the years they have become jaded by the packaging and spin that typifies most marketing and advertising campaigns.

Step one: Before you start, establish clear business objectives and metrics.

What surprises me is how many blogs and podcasts or even Facebook groups and Twitter sites are started as an executive pet project. That may relieve some pressure to demonstrate ROI, but as a marketer responsible for social media initiatives, you should never move off the starting mark without clear and measureable business goals.