Social Media is a Waste of Money…

…if you say it is.

Social Media has no ROI” statements are self-fulfilling prophecies shouted from the rooftops by nervous leaders too afraid to open their eyes and see the new world we live in.

Their prophecies will come true for them. I promise.

“Whether you think you can, or you think you can’t — you’re right.”
— Henry Ford

Social media is a game changer because it fundamentally changes the way humans interact with each other.

If your business deals with humans, social media doesn’t need a return on investment (ROI) to be justified anymore than phones need to be justified in a call center. It’s like asking for projections on the ROI of speaking. Just like voices and phones, social media is the way hundreds of millions of people are communicating with each other every day.

Help them open their eyes.  The world is changing!

Have a great night,

Aaron@Biebert
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Published by Aaron Biebert

I'm a director, film/video exec producer, leader & 8pm Warrior. I am passionately chasing my goals at all times. I'm listening. Let's talk!

7 comments on “Social Media is a Waste of Money…”

  1. At some point every business is accountable for an ROI either with a lendor in a business plan, a shareholder with returns or dividends or perhaps the actual sole proprietor who is working to make a living. Social Media is not a game changer in this arena. But where it is a game changer is:
    a.) generating new business ($ value)
    b.) troubleshooting in real time ($ value)
    c.) building a mailing list ($ value)
    d.) leading people to your business website ($ value)
    and so forth.

    If an activity has a dollar value, then that value less the cost to do the activity has an operational expense that can on it’s own or in conjunction with other activities effect a company’s ROI.

    A company needs to decide if the market or markets it is targeting find social media a useful way to do business with their vendors to decide whether it’s a game changer.

  2. This certainly wasn’t what I was expecting based on the title, and I LOVE the points you made. I’ll certainly use some of this on my job. THANKS!

    I’ll bet you’re a big fan of Scott Stratten (@unmarketing). If not, you should be. He LOVES to make points just like this.

  3. I like Cheri’s list. Here’s a few more bottom line points.

    I restate Cheri’s points and add a few more of my own.

    1. Generate new business
    2. Troubleshoot in real time
    3. Build a mailing list
    4. Bring people to your website
    5. Lower cost of brand engagement
    6. Lower cost of customer service
    7. Lower cost of business/product development
    8. Lower cost of marketing strategy
    9. Increase collaboration with business partners
    10. Increase rate of innovation
    11. Leverage in social organization adaption
    12. Leverage in valuation

    Stan

    Recently on my blog: What’s Yahoo’s next move – official Yahoo! Farmville cheats? http://wp.me/pbg0R-ea

    1. Janet, that might be one of the best compliments anyone has EVER shared with me. Seth Godin is brilliant. I’d like to be in his league someday. Until then, thanks for the encouragement.

  4. :-) Yeah!

    Too many “business people” are looking for figures: followers, fans and want to draw other figures from these (sales, revenue) and of course the all mighty ROI… It’s silly coz most of them managed to build businesses by building relationships with real people – they tend to overlook that social media = reals people as well.

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