Over the River

June 25th, 2007

Social Media: decapitalizing the “I” in ROI

Posted by gpc in Communication, Blogging, Social Media

Last week I was on a panel for the Social Media Club here in Boston on making the business case for social media. Mine was an easy role - I just had to go out there and talk about all of the wonderful ways and reasons people have for saying NO! Pat Fennessey of Cymfony did a way better job of it than I did with a list that really rang true.

As the conversation went on, I pointed out that the investment in most social media programs is so small that we should think of ROI as ROi. I mean if it costs essentially NOTHING to create a blog or to post a video ANY result is upside. Look at Blendtec. They spent $50 to create the “Will it Blend” program. In its first five days, that $50 investment led to SIX MILLION visits to the company’s Web site. (That works out to approximately 0.000008 cents per vistior - a pretty good return if you ask me.)

We all understand that the reason social media works is because it is easy, effective, accessible and affordable. Businesses and the many naysayers out there need to recognize this as well. When the “I” is small the “R” can be as well.

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5 Responses to ' Social Media: decapitalizing the “I” in ROI '

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  1. Todd Van Hoosear said,

    on June 25th, 2007 at 1:11 pm

    Hiya Greg! Thanks for the note. “Will It Blend” is a great example of both creative corporate video as well as ROi. Thanks for helping out with the event! We’ve gotten a lot of positive feedback!

    Oh, can you update your tags to include SMCBoston? That’s the “official” tags, as far as officialdom goes tag-wise… :-)

  2. Todd Van Hoosear said,

    on June 25th, 2007 at 1:13 pm

    Oh, the “link” link is dead. Assuming you want to send people here: http://topazpartners.blogspot.com/2007/06/top-5-1-objections-to-social-media.html

  3. Todd Van Hoosear said,

    on June 25th, 2007 at 1:15 pm

    Oh, finally (I keep thinking of things to add after I hit “Submit”)… Were any of the photos I took on your camera decent enough to share?

  4. GregPC said,

    on June 25th, 2007 at 1:39 pm

    Thanks Todd - brain cramp led to the missing URL . . . I have posted four photos from the event to Flickr. Go bananas.

  5. John Cass said,

    on July 5th, 2007 at 9:15 pm

    great job Greg, I thought you had some good things to say!

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