Socialnomics – ROI of Social Media

Another one of those sharp snappy videos which contain a tonne of data that flashes before your eyes. This time on ROI in the social media space from Socialnomics.

Co-Chairman Alex Bogusky of Crispin Porter & Bogusky (another MDC Partners agency) puts it best when he states:

“You can’t buy attention anymore. Having a huge budget doesn’t mean anything in social media…The old media paradigm was PAY to play. Now you get back what you authentically put in. You’ve got to be willing to PLAY to play.” – Alex Bogusky, Co-Chairman of Crispin Porter + Bogusky

I’m not a huge fan of some of the stats type videos that are put out there to scare brands into using social media for social media’s sake. Social media is right for many brands and I am hard pressed to find a brand which would not be enhanced by using social media in some way but in a world of scarce resources, you need to focus on getting a return from your marketing investment (ROMI) and sometimes, given the target demographic, this is not best achieved with social media.

It is great for stats to finally show that organizations that use social media can generate real, meaningful, measurable growth as opposed to the soft metrics of “engagement” and “conversation” – these are a means to an end, not the end goal. Once you can accept that a more engaged organization will grow faster and be more profitable, you can put these down as Key Performance Indicators for your campaigns – but not before.

One Response to Socialnomics – ROI of Social Media

  1. casiestewart says:

    this is great, thank you!

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