If you are a Social Media endorser in your company you will most likely be asked this question: What is the ROI of investing in Social Media?
There is a strong tendency to compare investment in Twitter to investment in TV, Radio or any other marketing plan. However, there is one key difference with the traditional media. In traditional media, the consumer is not answering back to our “advertising stimulus”, the brand is lecturing a class in which students can not participate. In social media, brands are building a relationship based on constant conversation.
Investing in Social Media should not only be considered as investment to talk to consumers, but especially to listen to consumers. This is a two-way avenue marketers should be willing to ride on.
The Social Media Equation is simple:
Social Media = Targeted Marketing Vehicle + Cost Efficient Consumer Research
If you agree with the above, next time you face the question: “What is the ROI of the Social Media plan?”, maybe you can reply with the question: “What is the ROI of investing in consumer research?”.
