Just a few thoughts…
What these statement speak LOUDLY is Social Media has given POSITIVE RESULTS with low overhead. THAT speaks volumes by itself. BUT marketing wants ROI’s drawn up on paper. In today’s marketing….not happening presently. Traditional marketing has lost it’s high dollar appeal, fueled by this economy, its generating a mass movement to Social Media Marketing. Only 18% of traditional TV campaigns generate a positive ROI…old media was Pay to Play…do you think the majority of media dollars will reside there tomorrow?
Good question…but shouldn’t we be answering:
71% of companies plan to increase investments in social media by an average of 40% because:
Socialnomics blog states really well: Social media touches every facet of business and it should be viewed more as an extension of good business ethics. Which, if done properly, will harvest sales down the line.
ROI’S? Most definitely Social Media is moving and keeping up with technology…Marketing – traditional marketing has just barely started moving in that direction, realize that people have taken the power of conversations into their own hands. Most people become informed on whether a product or “brand” is worthwhile by opinions and comments from consumers via reviews, Social site, email, and twitter.
Those can’t really be tracked as traditional ROI’s. Mcdonalds says it plainly: “Our head of Social Media is the customer”
What’s your opinion?