Many business owners and marketing executives ponder this question daily – Have you really seen ROI from Social Media?
I read this blog post and case study by talented author, Timothy Ferriss of The 4-Hour Workweek. By the way, this book is a great read, if you haven’t read it already. After I read his book, I was ready to run to Malta and Italy and run my business from the Amalfi Coast. Here’s a brief glimpse into his blog post so you get the idea of his educational non-profit campaign using Twitter – “Tweet to Beat.” Ferriss says, “The gist: To benefit U.S. public school students, I will bribe the entire world to follow me on Twitter for $3 each.”
“Social media marketing! Twitter consultancies! Conversational communications! Oh, these are exciting times. It seems like everyone and their grandma are getting into social media.
On a whole, I think this is a good thing, but here’s the problem: whenever technology becomes fashion, return-on-investment (ROI) tends to get lost in the excitement of the latest .com catwalk.
It’s going to help “the brand”? Show me data. It’s going to drive more “awareness”? Define it, isolate it, and translate it into a sales increase? In this post, we’ll look at some real numbers (total capital, conversions, redemptions, etc.) from my latest educational non-profit campaign, the Twitter-based Tweet to Beat, which was a follow-up to the blog and leaderboard-based LitLiberation campaign, which outraised Stephen Colbert 3-to-1 with no staff and no material hard costs…”
You can read the rest of his story about Social Media and ROI here.
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This post was written by Robyn on May 13, 2009