Social Media and ROI
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Are you still trying to measure the return on investment for your social media efforts? Do yourself a favor and stop. There is no set way to measure the effects of social media on your business through analysis of numbers and sales. Counting the number of people you reach with your messages will not work either. To be sure, measuring ROI for the social media medium is a tricky business, but there is one thing most online marketing experts can agree on: using social media gets positive results for your business.
The only way to achieve success that is measurable with social media is have a very specific idea for your return. Are you after increasing the dialogue between you and potential customers? Then look at your social media campaign and see if there has been an increase in user reviews, testimonials and other forms of feedback from people interacting with your company. Want to find out if your new product is being received well by customers? Put the question out there and see what kind of responses you get. Believe me, if people can find your question and have or know about you product, they will voice an opinion. That is the real power of social media.
There is no other way to get a message out to the people who have a high probability of caring than through social media. It’s the ideal medium for reaching likely customers on a level that is conversational, friendly and purposeful.
It is 2010, almost 2011 and people are online. They are online at work, at home and everywhere in between. The social atmosphere of the Internet is the new ‘Big Thing’. If you want to get in contact with your customers, you go online. Therefore, while you may not be able to justify social media marketing with numbers, you do know that it is something that you must do. It helps increase contact with your customers. It helps you connect with the people of influence in your industry and, if you are doing it right, it gets them to talk about you. An company active in social media, by necessity, must keep with good business ethics. It is not possible anymore to hide bad or shady business when everyone can see what you are doing.
Offer a great product or service and then tell people about it. Using social media, the right people will see your message and respond. If you are still in doubt, then check out the video below. It is by far, the best compilation and testament to the success social media offers to businesses who are willing to fully disclose themselves to it.
Joe Knowz 