Just some thoughts on the ROI of social networking I said in a comment, but need to go elsewhere: Social media is so hard to track given the current state of analytics- and its tech limits anyway (we cant and probably dont want to track the real world non-online aspects of buying decisions). It becomes messy as soon as you use multiple marketing channels, because its impossible to attribute sales acccurately. But most of us who use it effectively have seen clear enough value in anecdotal situations to understand its worth it. For me, Twitter is part of networking, and the ROI of networking includes life and business-changing events that only relationships with other people can bring- things you simply cant buy the way you can buy an advertisement. Sometimes these are opportunities like speaking somewhere, or a JV partnerships, or a client referral- and those can lead to other opportunities- an entire path of ROI that would not have existed without the networking. We did an accounting of my client business this year and found that more than 90% of my revenue comes from things that began with networking- and those always include Facebook and Twitter augmentation of those relationships.
Posted on: Thu, 20 Nov 2014 19:19:46 +0000
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