Define Social Media ROI Before businesses can calculate ROI, it needs to be defined. Eric goes beyond the Wall Street notion of monetary investment in his definition: “ROI is more than ‘money in, money out’. It’s about efficient business success.” While ROI is more than monetary success, Eric cautions that you have to go beyond measuring social media actions (fans, likes, friends) and look at real return. Understand Real Return of Social Media Return is any action taken by your customers that directly moves your business forward. One question to ask when determining whether an action provides value: If you had zero of these actions, would you still have a…