Notes Social Media and ROI

ROI implies investing time to receive value. If that value has not shown up on the ledger as of yet, it doesn’t mean it is imaginary. While the dollar payoff of a tactic can be in doubt primarily because the tools for measuring the value return are not yet available; from a ‘logic’ perspective the value obviously exists.

The key thing in communicating ROI is to consider both the measurable ROI equation as well as the difficult-to-measure ROI story.

ROI is difficult to measure when presenting the value of a tactic measured against the strategic goals of the company. In terms of social media – if a company believes in the value of relationship entanglement with their customers, then it will strategically value investments in the new tools to create those relationships – even if the financial payoff is difficult to predict or measure.

The equation is easier to present when social media are used to enhance a particular marketing initiative: an event, conference, trade show more traveling road show.

Advanced programs using social media integrated with the actual service or product can have particularly strong demonstratable ROI.

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About Howard Oliver
The founder and CEO of What If What Next, Howard Oliver (holiver@whatifwhatnext.com) for more than 20 years has been an entrepreneur, writer, thought leader, PR Guru, business development strategist, technology evangelist, manager and consultant for numerous service, industrial and high technology companies. Howard provides leadership in the application of Agile and Lean project management methodologies for technology enabled social media marketing and PR campaigns that deliver revenue, customer and alliance engagement, and media buzz. Clients in technology and other industries recognize him as a driven, highly creative and disciplined thinker. He also created the WebVoyaging® brand, a market engagement methodology that optimizes the deployment of cloud based, best-in-class marketing automation solutions. The WebVoyaging® process is inspired by the great visionaries who conceived of and built history’s great sailing vessels, which helped establish trade routes and created huge wealth. An accomplished business educator, Howard has recently created the WebVoyaging® Master Class, a training program for organizations interested in implementing Lean marketing automation solutions. Howard holds an MBA from Wilfrid Laurier University, and a Bachelor of Commerce degree from McGill University. Howard is an avid sailor and collector of books.

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