Social Media Has No ROI

Source: Golden Practices

In a February 7, 2010, blog post, Michelle Golden, president of Golden Marketing Inc., argues that asking "What's the ROI of social media" is the wrong question. It's like asking about the ROI of a telephone, a computer, e-mail or some other business tool. These tools can be highly effective or a big waste of time, depending on how you use them. A more realistic approach, Golden suggests, is to measure the ROI of initiatives, not of tools.

Social media by itself -- just "being out there" -- is not an initiative. To determine a meaningful ROI, social media -- like other tools -- should be viewed merely as one component of a well-defined strategy. Golden warns that "simple metrics like number of followers, fans, or friends, are mostly irrelevant without a defined purpose and specific goals."

To read the complete post, click here.

From Golden Practices, http://goldenmarketing.typepad.com, February 7, 2010.