There Is No ROI From Social Media!

by Jay Deragon on 01/30/2010

There is lots of chatter on the web relative to the ROI from social media. As we start a new year  more and more people and organizations will become consumed by defining the ROI.

The Rising Tide of Expectations

People and businesses don’t like spending time and money without defining the return on their efforts.  At the same time people and businesses engage in non-productive activities without even considering an ROI on those activities. So one must ask why do they think  social media activities will produce an ROI? The reason is that social media has become in vogue and everyone seems to want to capture value from it rather than with it.

Now Social Media ROI is in Demand Connie Bensen predicts for following trends for 2010 as it relates to this ambiguous thing called social media ROI.

  1. Companies will expect ROI from their Social Media efforts.
  2. The Social Media Specialist (Community Manager) position will become mainstream.
  3. Cultural shift inside of companies.
  4. Social Media Monitoring will be a necessary component
  5. Agencies and companies will hire data analysts
  6. Integration of platforms and processes will be critical.

Connie’s predictions are sound and the market activity in 2010 will likely follow form.  I have my own take on social media ROI. My take is there is no ROI from social media. Watch the video below and give us your thoughts.

{ 17 comments }

Simon Iribarren February 16, 2010 at 6:58 am

"There is no ROI from Social Media" http://bit.ly/aJPnrx (via @friasrod)

Rodrigo Frías Rivas February 16, 2010 at 6:53 am

A la vena "There is no ROI from Social Media" http://www.relationship-economy.com/?p=8443

Online Affairs February 9, 2010 at 9:25 am

There Is No ROI From Social Media! #socialmedia #roi http://ow.ly/15lrD

Mitch aka Misupilami February 9, 2010 at 9:25 am

There Is No ROI From Social Media! #socialmedia #roi http://ow.ly/15lrt

Mark Harai February 5, 2010 at 9:58 am

There Is No ROI From Social Media! http://bit.ly/98oict via @jderagon

João Duarte February 5, 2010 at 3:30 am

RT @AldaTelles: "There is no ROI for social media" http://bit.ly/dp9YRm

omniConsul February 5, 2010 at 2:28 am

RT @AldaTelles "There is no ROI for social media" http://bit.ly/dp9YRm

Código Fonte February 5, 2010 at 2:08 am

"There is no ROI for social media" http://bit.ly/dp9YRm

Alda Telles February 5, 2010 at 2:08 am

"There is no ROI for social media" http://bit.ly/dp9YRm

John Hingley February 3, 2010 at 9:18 pm

There Is No ROI From Social Media! http://bit.ly/98oict. This is complete BS. Simplify, choose 1-3 metrics and at last get a ballpark!

Hemant Makhija February 3, 2010 at 8:28 pm

ROI from social media – http://bit.ly/dp9YRm. Good read.

Freddy Mini February 3, 2010 at 8:25 pm

Excellent article. Agree with prediction and believe Netvibes' Dashboads will be a key role there. http://tinyurl.com/ykgbeb8

Susan Breidenbach February 3, 2010 at 8:15 pm

Does social media ROI make sense? No, says Jay Deragon. You capture value WITH it, not FROM it http://ow.ly/13BpX

Gregg Morris January 31, 2010 at 12:48 pm

Great comic and video. "There Is No ROI From Social Media!" http://j.mp/deM9R7

albertvanruitenburg January 31, 2010 at 11:29 am

roi op social media? http://icio.us/5it5vc

Marco van de Kamp January 31, 2010 at 8:44 am

There Is No ROI From Social Media! (Video) by @jderagon RT @bkmacdaddy http://bit.ly/ciJfLd (via @happysoul)

Ed Dodds January 30, 2010 at 12:23 pm

http://www.bigsouthsocialmediasummit.com/prelaunch/

It’s the “how” that’s the tricky part.

Business leader’s skepticism is not surprising. All things that tweet, blog and go bump in the night sounds intimidating, to say the least. It’s easier for the plan to be “let’s wait” than to take risks–especially if you’re not a technology-based company.

You may have questions like “How does it fit in our business?” “How much work would it be for our team to really use social media to effect our bottom line?” The answers may be closer than you think. This all day business summit will help get you started on your path to enlightenment.

Come listen to some of the most forward-thinking business giants from companies like Southwest, SAP, Comcast, Domino’s as well as social media loving celebrities who will speak directly on how they drive ROI through social media. Speakers will share real-world success stories, pit falls, and case studies to demonstrate the true value of social media. This summit will allow business leaders to finally understand how social media can propel their business and how to produce real results. More than the mechanics, this is a relatable summit that will open eyes to the power of social media in business.

Whether you’ve already decided your business needs to dip its toe in the social media water, or are just intrigued by how global and local businesses actually find success, we invite you to join us for a day filled with practical applications that will leave you with many “ah ha’s”.

Big South Social Media Summit (.com) presented by consulting and placement firm, Vaco, will lift the veil and demystify how social media actually works in business. Known as “Music City,” Nashville is one of the South’s fastest-growing and most vibrant cities, internationally renowned for its rich musical heritage and vibrant musical life. The event will take place at the Schermerhorn Symphony Center which opened in 2006, spans a full city block, and is a breathtakingly beautiful, state-of-the art facility.

This event will not be like any other “summit” that’s been seen in the U.S and we are limiting attendance to 1500.

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