By Jeffrey Hayzlett, author of The Mirror Test: Is Your Business Really Breathing?
Traditionally, ROI means “return on investment.” And that’s a very important component to consider in any marketing strategy. However, it can be difficult to track when it comes to zeroes. In the absence of hard numbers, ROI becomes something I call, “return on ignoring.” It’s especially relevant in your social media strategy.
Social media is happening with or without you, so what’s the worst that can happen? Most likely nothing, but consider that via Twitter and Facebook, the worldwide impact of the death of Osama bin Laden was readily apparent. The leading social analytics company, PeopleBrowsr, demonstrated these results in a recent blog post. There were more than three million mentions in the U.S. and hundreds of thousands of mentions in countries like Brazil, Venezuela, and Canada in the 48 hours after the news hit.
Another great example: during the Super Bowl, folks were tweeting and commenting on the commercials. The reach and impact of companies advertising during that event was just as important and viable via social media as it was through traditional commercials during the game.
Five tips to leverage your social media strategy:
- Overcome the challenges and capitalize on opportunity
- Set a policy for engagement
- Decide who speaks for your company and make sure they speak with one voice that represents your organization and brand
- Get out there—establish and protect your brand
- Quality over quantity—your message must have value and impact
Even if you’re a small company with a limited budget, you can still achieve big impact. If your message is relevant and genuine, and you listen to your customers, they will often sell your product or service for you.