Social Networking Computer Software Web Tips Guide
Social Networking And Achieving ROI
By Christine Wales
Businesses always want to know the bottom line, and the big question
for all right now, is whether social networking will bring financial
benefits to their company or not.
These institutions, or their accountants anyway, want everything
to be measurable, which is supposed to let them know when something
isn’t working to fill the company’s coffers, so they can stop
doing that and try something else that might bring in more money.
Return On Investment With Social Media
This means that the financial people in every company want some
clear data on social media ROI, or Return on Investment. If they
put money into developing social media, are they getting enough
results, meaning money, to make it worth it?
The problem with asking this question of social media today is
that some things in the business world are just not quantifiable
or measurable, at least not very easily, and not in the way the
bean counters mean.
Attaching Numbers To Work Out ROI Of A Marketing Campaign
That is, you might be able to attach numbers to certain things
in the new social media world, such as how many followers a company
gets on Twitter in a two-month period. But whether that can be
translated into some sort of social media campaign that allows
numbers of people to draw any valuable conclusions is another
question.
In October of 2008, Jason Falls, reporting on the Social Media
Explorer website, described the inherent problem in trying to
take social networking and calculate a Return on Investment for
it.
No Money In A Conversation
This problem is that such calculations are trying to attach numbers
to human interactions, to human conversations, which is simply
not possible. As Falls puts it, "you don’t get money out
of a conversation."
He even goes so far as to say that if a company has developed
a social media strategy "to make money," then they’re
missing the entire point of these networks.
The real return on investment for social networking is that it
builds a community of people who go on to boost a company’s brand.
It also provides a forum where a company can defend itself against
detractors.
Achieving Good Results With Word Of Mouth
The new media engages a company and its potential customers in
a conversation. And it’s always been known that word-of-mouth
is the best possible advertising. Social media optimization is
not about spending X amount of money and raking in Y amount of
dollars through a clear connection.
It’s about allowing a review of their options and creating
a positive, cooperative atmosphere that will eventually, and intangibly,
bring good results to the business.
About the Author:
Christine Wales has written a number of articles on Social Networking,
Computers, Software, Web Design and Online Shopping including
Facebook Proxy,
Social Media Tools,
Advertising Online,
Online Shopping,
Website Design.
Keep a lookout for more of her articles on this website.
Give Me Just The Social Media Facts.....
How can social media websites help my business?
Not all social media websites can help your
business. Or rather it is how you handle these websites that can
make all the difference. Even a website such as
www.myspace.com
can help you if you know how to approach it in the right way.
The key is maintaining your website and making it seem professional.
If you feel that Myspace is not capable
of coming off in a professional manner then you may want to consider
joining Twitter and then linking it to your own website. You can
also join an online organization that is more in line with your
business needs.
The right organization and online membership
can greatly expand your business and lead you to new customers.
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