Return on investment analyses is really easy: ROI = (Net Profit / Cost of Investment) x 100. The problem with doing this for the Sochi Paralympics is I did not make money. I knew going in I was going to lose money. This is more about understanding the relative performance metrics of what I did when trying to assess the value of doing other reporting on my own dime (or with grant money on some one else’s dime) and the potential outcomes.
Based on my previous blog post exploring Sochi costs, the total was €551.05 / US$766.18.
The actual ROI becomes complicated as it is a question of what my expected return is. This is actually a difficult question, especially when it comes to measuring media impact because it isn’t just page views that matter: there are a large variety of factors that play into the effectiveness of media story telling and measuring ROI.
For the moment, let’s assume pure costs against pure page views is all I care about: 10 articles producing 14,078 views from March 1 to March 23 puts the cost per view at €0.039 a view.
Let’s make this a little more complex. In order to get to Sochi, I did a fair amount of reporting. There were 18 other articles mentioning the Winter Paralympics, including 11 from Copper Mountain, 2 right before I left for Sochi, 2 from La Molina, 3 internet based articles a few months before the Games. Let’s weight these a bit assuming the Sochi costs are born out for these articles based on the Sochi period (because they probably got page views they would not have had otherwise). The Sochi articles account for about 75% of all 2014 Winter Paralympics news coverage during that march period, and the other articles account for about 25% of all traffic. In this instance, total views Sochi value goes down to €0.029 a view and the non-Sochi value is €0.069. The bump while much smaller pays off more by having large volumes of news stories in the archives. On an average views per article, it goes from average total views per article for non-weighted for Sochi at €2.554 to €3.406 for weighted, versus non-in person Sochi €0.457 to €0.811. The €0.039 number views seems the most rationale in this case.
Let’s assume that pure production is the number that is cared about. Total cost per article is €55.105 an article for each article published while I was in Sochi.
While in Sochi, I wrote one blog post the day I left, seven while there and so far two after that excluding this one. I’ve written effectively 19 blog articles about preparing for, going and the follow up to the Sochi Paralympics. For me, this was an important part of my reporting and it complimented my reporting. It talked more about the process and the experience in a way that my pure sport reporting in a journalistic style did not. These ten articles had 8,496 views, syndicated and to my blog, between March 1 to March 23. The value of each individual view is €0.084. While I had the same number of blog entries, I had a lot fewer views.
From a pure money aspect, if only counting blog entries, it cost me €78.72 per blog post. Expensive. Let’s assume for a moment equal weighting of blogs and news articles. I produced 17 pieces of long form content. Each piece cost me €32.414 to write. If I combine the page views across both my blog and the published Wikinews articles, the average cost per total view is €0.024. Cheaper and cheaper per view. Combined views, this is not bad.
These numbers feel fine, but they are rather non-compelling. Yawn yawn.
There are other metrics to assess ROI in this case. The official English Wikinews account on Facebook linked to every article published from Sochi. These posts for the Sochi reporting combined were views 7,636 times. Seems pretty good. Of the ten articles, there were 25 times where they were linked to on Twitter. Twitter reach for these links exceeds 100,000 twitter accounts. The links were seen by a lot of people, the views were decent both to the blog and the news articles.
ROI might have been stronger had there been more Wikipedia work and Commons. Wikipedia allows no original reporting, and is thus useless in an original reporting context. (Journalists should not be going places as Wikipedians reporting for Wikipedia.) Commons was also off limits, because of two factors: The agreement as a member of the press is none of your photos can be uploaded commercially. This meant no event pictures could be uploaded to Commons. Second, Russia has no freedom of panorama. I tried to upload a photo anyway, and it got nominated for deletion. In this particular context, Commons content creation is not a factor in ROI.
So using pure page views, the answer is each view costs less than €0.10 each. The articles averaged €32.414 to write. I’m not actually sure how much more this ROI analysis adds. There really needs to be a formula to better figure this out.