This post is a prequal to the forthcoming ones on social media strategy/implementation (request from @samatlounge). But as I received an email this evening and I didn’t have a chance to blog today, I thought I’d post it…
In business, implementing and engaging in anything new, justifying ROI has always been a concern. But in relation to social media, for some reason, it seems to get asked more and more often. Do you find that?
There are two answers I tend to favour (but there are others):
Number one is: a Scotsmans tip for ROI, keep the ‘I’ really small then no-one will give you hassle about the ‘R’! Social Media tools are realatively low cost (sometimes free) so if you’re spending a lot of money then the realisation is that you’re probably doing the wrong thing!
Number two is: If you’ve quietly implementedSocial Media – let’s say trialing it, be a little bit tactical and try to postpone answering the ROI question(s) until you’ve got a ‘reasonable’ amount of supporting evidence to back you up. Once customers/clients are asking lots of meaningful questions and getting replies – the conversation has moved from a monologue to a dialogue – then it practically becomes a non issue: and it’s clear that it’s benefitting and adding value.
Keep in mind that although Social Media works for an awful lot more businesses than people would imagine, it isn’t for every business. However, I’ve been surprised by the number and different types of organisations using social media: especially those that are highly regulated, highly risky, in some cases highly bureaucratic and even the old grey lady of UK retailers, Debenhams, has become the first UK retailer to start using Twitter! People in these diverse organisational settings have still seen enough value and foresight in Social Media and its potential to seriously think about it, engage with it and implement it.
If an organisation or your boss doesn’t want to get involved in Social Media and if they don’t want employees having something to say or collaborating and being innovative with one another then they maybe they shouldn’t do it. But then again I don”t know many businesses that don’t want want those things…do you?
Thoughts…?
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