The Conversational Corporation: How social media is changing biz from the inside, out

Comment

Comment by Suzanne McDonald on July 21, 2009 at 8:38pm

The ROI argument is the equivalent of ducking your head in the sand: It's easier to obstruct obstacles than to pay attention to what's actually going on.

Comment by Jonathan Kranz on June 28, 2009 at 5:28pm

Agreed. And before I committed to a social media manager (a role that could be very difficult to define -- after, shouldn't all of us be "social?"), I'd create a clear list of objectives and at least outline some fundamental expectations, even if they are difficult to measure.

Comment by Jason Fishbein on June 28, 2009 at 11:17am

I'm with you. I've always found the ROI argument frustrating, and for some industries just measuring an accurate response rate can be challenging. So any new venture is a test. I suppose, one quarter could include a more aggressive social media plan as part of the overall marketing strategy and another quarter a more 'sedate' plan. That's probably not a full-proof test given the length of certain sales cycles, but probably a decent guide. I'm just not to sure about hiring full-time social media managers before conducting some testing (this seems to be happening) and like you mention—finding a trail back to those efforts. Old tactics like word of mouth are free, so maybe I'd hire an agency or contract employee to test the social media waters before making it an integral part of my strategy and budget.

Comment by Jonathan Kranz on June 27, 2009 at 8:45am

You know, I find the ROI argument frustrating. Just because a thing is difficult to measure, doesn't mean it isn't worth doing. I think the issue with social media isn't proof of return, but a reasonable expectation of results. Ultimately, social media is nothing more than a digital version of old tactics: word of mouth and network. We know these work; with the right application of intelligence, social media will work too. For me, the ultimate tests will be retrospective; as I work backward to to determine HOW I landed a given client, I expect to see a trail that includes some social media efforts. If not, I'll adjust my game plan.

Comment by Jason Fishbein on June 27, 2009 at 5:18am

I posted a discussion a few weeks ago about social media. I find it incredible that it's risen so quickly. The one thing I'm not sure about is how we're going to figure out what's really generating results? With so many marketing channels and a multitude of companies claiming that their data collection resources are the most accurate, the options seem unlimited. Sure, there are some standards, but are corporations testing the social media waters or going full force? When I get back in the game, I'm not quite sure how to project ROI from social media. In the meantime it can't hurt and let's face it—it's fun. .