31Oct/100
Innovation is the real ROI of social media
DragonSearch has a "Social Networking Media ROI Calculator", based on the original one from the Blog ROI piece in Groundswell, by Charlene Li and Josh Bernoff. This tool allows you to fiddle with the numbers until they make sense.
This doesn't mean you can save a lot of out-of-pocket money by going for social media instead of, say, tv budgets. You get a long way with passion and plain hard work. One of the premises in my upcoming book on social media for businesses is that innovation is the true ROI of social media.
If your company is serious about including the social dimension must be included in each department and embedded within the company culture, this means that way your executive level and their departments work must change. But the good news is: by doing so, companies are able to discover the real return on investment of social media: Innovation.
A couple of these ideas are included in my keynote during Digital Marketing First 2010: ROI of Social Media.
