CIM GLR

CIM GLR

Social Networks- where is the ROI?

Posted in Chairman's comment by Mocky
Jun 12 2009
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Facebook. LinkedIn. Flickr, Twitter, blogs. The list goes on. Sometimes, it seems like social networks are taking over the world. And, let’s face it, people enjoy using them. Facebook has 200 million users – more members than some countries have people. Social networks give people a chance to communicate, share ideas, state preference and also do a lot of silly things like find out what great dictator they most resemble. But all joking aside, social networks are growing – and they’re clearly important.

We can agree that people use them. But they generally use them to connect with other people. Not look for products. When you’re sitting down for a drink and a chat with friends, the last thing you want is to be advertised to. Maybe a social network just isn’t the right place to get customers interested in your latest offering. Maybe they’ll too busy talking among themselves to listen to you.

On the other hand, people use blogs, Facebook pages and twitter to talk about products – whether they have negative things to say or positive. So there are important conversations happening. Customers and potential customers could be talking about your business and its products or services without you actually knowing. So, it’s probably a good idea to see if an I-hate-XYZ-widgets page exists on Facebook. And if it does, you might want to find out why, especially if you’re the Marketing Director at XYZ Widgets.

But running a campaign on social networks takes time and money – both of which are in short supply. After all, finding out what’s going on in your industry takes time and research. And blogs don’t just write themselves. When all is said and done, how can you prove your social networking strategy is successful? By the number of hits on your blogs? By the number of fans on your Facebook page. Or, is it the number of people who arrive at your e-tail site from a comment you dropped on your favourite forum? And how do you add all that up? Is one appearance on a popular blog equal to the same amount of space in a magazine?

So, the problem with social networking isn’t just how do we use it, but deciding how we measure its value.

Any successful social campaigns you’d like to discuss?

Tagged as: Networking, ROI, Social networks
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