Social Media and ROI

We love this video by Social Media expert, Eric Qualman. The value of social media can be hard to grasp for traditional business people. In the beginning our clients are often focused on the potential “ROI” of Social Media. They instinctively want to apply measurements from traditional analog media on today’s digital media platforms. They are still thinking in the “broadcast” box, where if you reach X number of people with your message, X number will respond.

Measuring the ROI of Social Media is like trying to measure the ROI of a chamber mixer, open house or a referral from a friend. Social Media is an extremely powerful way to build strong relationships with people who can become your customers….forever. if you use these free platforms right, you will always have a vast “warm market,” and can do business largely by referral.

That being said, Qualman’s video (above) provides some light at the end of the tunnel for those who need to see some old fashioned, measurable data points.

Our favorite story is how Gary Vaynerchuk of “Wine-Library-TV” grew his small business from $4 million to $50 million with social media. Gary really leverages the power of video. He writes an entertaining and informative, video blog and has made 1000 episodes of his “Wine Library TV” video podcast. He also uses facebook, but credits Twitter with gaining him 1800 new customers …free.

Recently profiled on the Socialnomics blog, Gary, reportedly, spent $15,000 in Direct Mail for a result of 200 new customers, $7,500 on Billboard advertising for an additional 300 new customers, before finding success with Twitter.

For the details behind the other companies in the video visit Socialnomics.

One Comments Post a Comment
  1. Esther says:

    Yup, that’ll do it. You have my aprpeciaotin.

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