We often hear the question, “what is the ROI of social media?” Maybe we are asking the wrong question.
Instead, let’s ask the following question: “what is the ROI of not doing anything with social media?” Asking this question is already answering it. So, what do we get out of social media?
• a shortcut in the sales cycle
• a reduction in marketing costs
• an improvement in positioning with regards to search engines.
At the very least, the majority of companies should be in “listening” mode concerning social media. For various reasons, there may be advantages to simply listening and answering relevant conversations. But to be part of the conversation means participating in it. And everyone who has already participated in a social media conversation can tell you about the importance of active listening. The type of discovery that statistics can’t provide!
Confucius said: “If man has two ears and one mouth, it is so he may listen twice as much as he speaks.”
Companies spend enormous sums of money on advertising campaigns and public relations initiatives and yet they continue to neglect the most direct method of communication that they may have with current and potential clients and stakeholders.
What is your opinion? We’re all ears!