Let's talk about wanting to have your cake and eat it too...
By the way, in French, we say wanting the butter and the money to buy it with (big surprise, French people like butter... ;) )
By the way, in French, we say wanting the butter and the money to buy it with (big surprise, French people like butter... ;) )
In other words, let's talk about the ROI of social media.
Companies thanks to social media can now actually directly contact their customers and talk to them. What else do they need out of it? The conversation they can establish is in itself an achievement, and the value they give to this exchange is their return on investment for trying to establish it. When you try to open a dialogue and you succeed, that is to say, you receive answers and feedback from the persons you were trying to contact, THIS IS YOUR REWARD.Again, What else do you want?
Now, I know, to convince your CEO or CFO to invest in social media, you need to show them statistics, graphs with trends that indicate profits raising and raising and raising...
But that is the old way. You can't apply this kind of thinking to measure the ROI of social media.
As stated in this video, it would be like trying to
As stated in this video, it would be like trying to
"assign multiple choice scoring to an essay question".If you want to experiment social media, you need to change your attitude. If you can't conceive not being able to put an accurate figure on the impact of an investment, maybe you are not ready for it and anyway you won't be able to appreciate whatever social media has to offer.
Establishing the dialogue and being part of a conversation with your customers is your ROI.The rest, sales increase, new ideas to improve your products, revamping your brand image, developping your brand content... you name it... It all just depends on what you want to ask to your customers. Opportunities are endless. You're part of the conversation. You have a say. Listen and ask. And the rest is bonus.
Photo credits:
- http://vervenorthwest.com/blog/?p=12
- http://graywise.files.wordpress.com/2008/06/web20.jpg
- http://www.itv-midipyrenees.com/publications/fiches-pratiques/images/beurre.jpg
- http://cartooncurio.blogspot.com/2007/07/monkeying-around-with-metaphors.html
- http://www1.istockphoto.com/file_thumbview_approve/1973631/2/istockphoto_1973631-money-bag-the-cartoon-toolbox-series.jpg
- http://www.alwaysauditioning.com/wp-content/uploads/2008/04/adf-cartoon-money-bag1.jpg
- http://gdesplac.free.fr/images/art/ben-vautier-wysiwyg.jpg
- http://lewebpedagogique.com/support/files/conversation.jpg
4 comments:
I know it's such a crazy concept that people need to have proof for literally everything to make their bosses happy. isn't it enough that people are receiving something unmeasurable by creating a personal bond with their customers/consumers? I think we put too much emphasis on ROI and not enough in personal/customer service. Btw, I like the french phrase! Happy Thanksgiving :-)
It is important for enterprise to participate in the conversation which is conducted by their customer. and that kind of attitude will bring the success or profit to the company. I agree with your opinion :)
I agree with your opinion. The direct coversation with customers is important way to maintain company's success so it's really need company to change the attitude about the social media and the ROI for social media is useful to measure their potential.
hey,I always enjoy your posting and am glad to hear yout opinions.
Even if we can not see the tangible results, we know social media is profitable. You've got my point. See you in class
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