Tuesday, October 27, 2009

Social Media ROI (God. Just writing that makes me sweat)

At an astoundingly douchey mixer held by the club promoters of the digital world (Digital LA), I was approached by a very pushy young man who was hocking applications. After figuring out my position in our Company and my affinity for Social Media, he posed the question "What is your ROI?".

I thought about it for a moment, and I responded. "We don't speak ROI, we speak relationships and community."

He laughed nervously, and i ran away.

ROI? Good grief, doesn't he know that social media is all about Teh Gudwillz and teh Relashunshipz? I have since obsessed. The positive impact of our SM campaigns is evident to me, but our bottom line would still seem unaffected. How do I convince the boss folk that this is a good investment?

Below is a starting point. Obviously for a small business like ours, it's not necessarily all applicable, but its a start on what I'm sure will be a lengthy discussion as SM begins to settle into its place as in the world of brand management, public relations, and marketing.

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