Comments on: Relationship Economics = Correct Portrayal of Social Media ROI?

By: Dirnov

Dirnov — Sat, 29 Aug 2009 21:19:00 +0000

Hi there,
Super post, Need to mark it on Digg
Thank you

By: derekshowerman

derekshowerman — Fri, 07 Aug 2009 21:14:56 +0000

Thank you David for the great insights. Awesome! Socialmartjb, I think you are right. But I dont think just Customer Service is the niche to focus. As I outlined in the blog there are a number of avenues a company can travel and not focus on $$$, ROI & leads. See:

1. Innovation (better products to the voice of the customer)
2. Business Intelligence
3. Competitive Intelligence
4. Brand Awareness
5. Brand Affinity
6. Productivity
7. Business Development
8. Lower Marketing Churn
9. Peer Customer Support (Lower Customer Service Costs)
10. Search Engine Optimization

As David wrote so eloquently the ROI is Return on Influence and other business objectives. I have blogged prior focusing on the business drivers outside of the traditional ROI realm: http://derekshowerman.com/2009/07/17/social-media-is-not-your-grandfathers-roi-what-about-roe-roc-ros-roa/

Thanks for commenting and sharing your fantastic blog.

By: socialsmartjb

socialsmartjb — Fri, 07 Aug 2009 19:34:27 +0000

Indeed. see my recent post on the subject – The Question is Not Can You Measure Social Media ROI? It is Should You? – http://socialsmart.wordpress.com/2009/08/03/the-question-is-not-can-you-measure-social-media-roi-it-is-should-you/

If you listen to Lionel Menchaca, Digital Media Manager for Dell, in a recent presentation at BlogWell San Francisco, their social media is much more centered around customer service – they don’t even think about whether it is producing sales or revenue – as long as they are keeping their customers happy. Maybe this is the approach we should all be thinking about?

By: David Nour

David Nour — Fri, 07 Aug 2009 02:53:45 +0000

Thanks for the mention. I think when it comes to social media / social networking, we’ll have to reinvent ROI – from the traditional return on investment to a strategic and quantifiable Return on Involvement, Return on Impact, Return on Integration, Return on Image and Return on Influence! Not just clever “I” terms, but an intelligent manner in which an organization can leverage its soft assets: brand, people, and relationships; on or off-line!

Best,
David Nour – founder
Relationship Economics – Atlanta
@davidnour