Archive for August 14th, 2009

One of the issues that has been discussed in the last several years centers around our Return On Investment.  It’s a good question – always has been.  It applies to personal budgeting as well as corporate marketing.  It applies to dating, family time, and the price you pay for your next car.  Smart people don’t spend any resources (time, money, staff, materials, etc), without considering the very real costs and the practical returns they will get for those investments.

When it comes to socialmedia, what kind of returns can you expect? You’d like a hard answer to that wouldn’t you?  Before you plunk down some hard cash to transform your business, you’re  going to think long and hard about what kind of returns you will see.

What if I told you that I can’t tell you? What if I told you that no one can quantify your ROI?  Oh yeah, if you’re a big Fortune 500 company looking to dive into socialmedia, you’ll have some data, but you’re probably not reading this blog either – you’d have people to do that for you.  For the smaller businesses, right now isn’t the time to think about ROI.  You should be more concerned with getting left behind.  Watch this!

[youtube=http://www.youtube.com/watch?v=sIFYPQjYhv8]

(thanks to Socialnomics for the great video!)

Any questions?