Able Quote by Sarah McCoy
“Using SROI to explore the value of our online question and answer service, askTheSite, helped us develop new mechanisms for speaking to young people and gain a real insight into the impact of our work. The project enabled us to demonstrate YouthNets commitment to robust impact measurement as well as our commercial approach to project evaluation. Perhaps most importantly, being able to assign a monetary value to askTheSite has enabled YouthNet to convey to current and potential funders how valuable the service is for both young people and the wider society in a language that they understand”
About This Quote
Source Report: YouthNet impact assessment, 2023
The quote describes how using Social Return on Investment (SROI) quantified the value of an online Q&A service, showing benefits for youth and society, and helped communicate impact to funders.
In simple terms: SROI gave a monetary value to the service, aiding communication with funders.
Key Takeaway
Use impact metrics to translate social benefits into financial terms.
Themes
impact measurement
social value
communication
fundraising
youth services
Mood
analytical
strategic
optimistic
Type
business
impact
communication
When to use this quote
- grant proposals
- program evaluation
- policy advocacy
- community outreach
Key Concepts
SROI
monetary valuation
stakeholder engagement
Questions to Reflect On
- How can we balance quantitative and qualitative impact data?
- What risks exist in assigning money to social benefits?
A Different Perspective
Monetary valuations may oversimplify complex social outcomes.
