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Shane Gibson Keynote Speaker | Social Selling | Sales Trainer | Social Media Strategy

Why Companies Fail at Generating Social Media ROI

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Why Companies Fail at Generating Social Media ROI

Social Media ROI Owned Earned Bought Return on Investment

 

Social Media ROI (Return on Investment), is supposedly a hard thing to prove or measure. The problem isn’t the value of social media, or in many cases our approach to getting results – it’s about commitment – a good old fashion work ethic and focus on the longterm.

Today’s social business podcast discusses the dilema and the needed shift in consciousness required of leaders to win in the social media space.

Social Media ROI takes time and most people – even really smart people in leadership positions (who come from a different era) have a tough time planning more than 3 months into the future these days. When you build a social media presence it becomes an asset, one which increases in value over time but really requires no more input on your 18th month than it does on your first day (solid strategy required of course).

“Social media” as a term sucks. The minute we put the word “media” beside something we start to measure it like our latest newspaper campaign or radio blitz. Most media is disposable and impermanent. The radio ad, print as or email blast has a very finite window for generating results and then that money, well spent or not is gone. We spend our $20,000 for a month long campaign and then to drive more business we have to spend it again next month.

In this podcast we are going to discuss three types of media:

  • Bought media
  • Owned media
  • Earned media

Failing to understand the difference between these three types of media and having the foresight and commitment to build a true media asset for their business is in my opinion one if the single largest roadblocks for most businesses social media success.

  • GlobalKAP

    Hi. You have brought up an important
    but complicated topic. In the end, all for-profit businesses are
    there to generate profit. That is the primary reason why the business is out
    there. Therefore it is important to understand why the social media is not
    generating ROI satisfactorily.

  • hey Shane – Social media ROI is difficult to accurately calculate. I asked some folks at Hearsay Social, how do you prove that all the investment in social media is paying off? They said, we don’t.

    Kind of like a billboard on the highway, with engagement of course.

    Ian

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