ROI and 2.0 don’t mix

I have to say, I agree with DJ Francis. The whole, “What’s the ROI of web 2.0 / Social media?” debate is a pointless one.

My two cents on the issue:

The ROI is in the learning – You’ll gain a whole chuck of return from the learning that you get from just being involved in social media. Return on Investment doesn’t always have to be a financial return on investment.

Marketing is no longer linear – It’s unconventional. You don’t just plug in a strategy and get results anymore. You list. You respond. You make mistakes. You learn. You try again. You keep trying.

Marketing, like it or not, can’t always be measured in a spreadsheet. It’s serendipitous. That’s not a bad thing.

You don’t need a strategy document to listen to your customers – At the end of the day, all of this social media stuff is just a vehicle hear what your customers are really thinking. And if that’s not part of your plan, you’re in trouble.

Social Media keeps you ahead of the game – The innovators didn’t wait around to see if their social media campaign delivered ROI. And as a result, they’re already ahead of the game. Take a brand like @Zappos. They’ve expermented succesfully with social media tools such as Twitter. And now they’re two steps ahead of everyone else.

Who says 1.0 tactics are working, anyway? – Before we start going after social media, let’s not forget that the traditional marketing approach isn’t exactly working its socks off. Does anyone think that Coca Cola actually generate ROI with a new bottle shape or any other futile marketing exercise?

It’s free! – You don’t even need to spend money on this. Just time.

So the question should no longer be, “Is it worth getting involved in Social Media”. The questions is, can you afford not to?

One Response

  1. Great post, Ben, and lots of good points cogently said. I especially like the one about 1.0 tactics.

    We see companies spend millions on a Super Bowl ad with virtually zero measurable ROI and then these same companies complain because they can *only* get the open rate, click through rate, and each single clicked link in an email campaign. And don’t get me started with blogs and real web 2.0 tools!

    Great post and thanks for including my blog.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: