Social Marketing – Do You Wonder if it Works? Just Ask Facebook Users!
May 20, 2010 by admin1
Filed under Social Media Marketing
This is the $100,000.00 question! Hundreds of Blogs everyday talk about Social Media Marketing ROI (Return on Investment) and usually what they mean by that is return in the form of dollars and cents made but I think they are looking at it from the wrong point of view.
I think businesses need to look at it from the point of revenue lost or LOI (loss on Investment). What does it cost a company not to be involved in Social Media?
This week Facebook announced a policy change that impacted the small businesses the profess to want to help. They decided that you can no longer create a Welcome page that your new visitors land on, so you can encourage them to “Like” your page. This option would be available only to customers who spend $10,000.00/month.
Whoa! That leaves out most of the people who helped to make Facebook what it is today! This proved to me they have become to big for their own good.
Outrage overtook the Internet with sites like this one by Lori Randall and Mari Smith’s Blog.
But Guess what? I just found out after less than 24 hours Facebook has reverted back to the original settings!
Yea Social Media works! and what would have happened if Facebook had not listened? They are huge but all it would take is a mass exodus to some other platform and they would be out of business.
And they get it!
Here is another example for you:
After months of problems with my Dell Inspiron computer, I finally started to Tweet about it an how disappointed I was with their customer service.
Several people from Dell reached out to me on Twitter and then I got an amazing email.
Dell was inviting me to attend a new CAP advisory panel in Austin TX. They will fly me out and cover my expenses so they can get an accounting of my problems. I told them it was a little late because I have already bought a Mac but they still want me to come.
This is another example of how companies and brands use Social Media for Return on Investment. Because they had company reps listening online they were ready to nip potential problems in the bud.
