Use this online community ROI calculator to give you a glimpse into the ROI of your online community, using the value of an answer as a key input. You can learn more about this formula in the ROI section The State of Community Management 2016.
The premise of TheCR's Community ROI Calculator is that almost all communities rely on dialog and the asking and answering of questions. As such, if you can determine the value of those answers, you can capture the lion's share of community value - and calculate ROI.
The formula is designed to be simple to use, and simple to explain to stakeholders - but like any ROI model, it is best used as a piece of strategy development and discussion, not just as an output.
The community ROI calculator is also available as a one-page ROI worksheet. Click here to download it.
What you need:
You need four data points:
- The number of answered questions per month in your community.
- The number of successful searches per month in your community (or the number of total searches and a rough estimate of the percentage successful).
- Your estimated value of an answer.
- The annual cost of your community.
The calculator is set up using MONTHLY answered questions and searches and ANNUAL budget numbers.
Using the sliders
The sliders on this calculator are designed so you can see how changing individual properties affects your ROI percentage. You can click and drag the sliders, or use your left and right arrow keys for precision control.
Some browsers and mobile operating systems don't handle the sliders well. If you are having issues, click here for a mobile-friendly version of the calculator.
Want more Community ROI insights?
This research brief includes an overview of the power of a tangible community ROI calculation, as well as:
- Ways ROI models often fail
- A formula for calculating Community ROI
- Approaches to identify and refine inputs and assumptions