Chapter 9
THE PROFIT MANIFESTO
Ten rules to ensure positive ROI on your social media activity
In Short
- Why the biggest roadblocks to successful social media ROI come from within organizations not from consumers.
- How badly implemented social media will deliver negative ROI.
- What those who generate the biggest ROI do so well.
Overview
In this chapter David Marrinan-Hayes, Commercial Director at British media company Archant (http://www.archant.co.uk/), discusses the social media return on investment. How much should you be spending on social media depends on your goals. Utilizing social media in certain areas – journalism, customer services, product development – can substantially cut costs and be far more effective at managing your customer image. The chapter discusses ten important aspects to consider, with good and bad examples of well-known brands and their social media campaigns.
Picture this: the links back to YouTube spread like wildfire. Across Twitter, Facebook and email hashtags, wall posts and links were propagating and re-propagating. Tech and media bloggers, the mainstream press and the broadcast networks were all picking up the story, driving interest even higher. Within the first 24 hours 5.9 million people had viewed the videos: more than had watched Obama’s inauguration speech; more than had watched George Bush dodge a flying shoe; more even than had watched Susan Boyle’s audition. What was fuelling the frenzy? A newly released celebrity sex tape? ...
