All new media choices are subjected to strenuous ROI criticism. Social Media is up now.
While nobody questions Coke as it expends the GNP of a third world country in sponsoring the Olympics (can they really prove increased sales?), any other expenditure of marketing dollars is increasingly scrutinized with critical eyes.
A great take from the 1to1 Newsletter from LaSandra Brill, Manager of Web & Social Media Marketing at Cisco:
"Social media is a type of word-of-mouth marketing. So the best way to measure is to look at share of voice online.
For example, we did a push for a tournament for an online game that we created, and we got more than 35 press and blog hits about it. The amount that we would've had to pay for banner ads or email campaigns to get that same coverage of the promotion would've been high. That's where you can really see the cost benefits and the ROI."
What would we have spent for the same number of eyes? Interesting thought...
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