Business owner says where is my ROI?
Return on investment (ROI) is the call from the manager/ owner of any business when they are asked to invest in Social Media. Fair question really after all they probably already have a website, why do this social stuff as well?
Time for some hard facts:
According to BarnRaisers 6.7 million people blog on blogging sites and 12 million people blog via social networks. They also claim 23 % of internet time is spent on blogs and social networks.Market Sherpa state 70% of us say blogs influence what we buy. Well that is a return right there Market Sherpa shows an example of ZAGG an online retailer stating its return on investment is 172% and a 10% increase in the company’s site traffic. Positive feedback on the wave that is Social Media, but what about links to New Zealand’s big markets?
NZ Heralds Yining Ding reported if NZ business want to reach the more than 500 million users in China, the Social Media site to learn and use is Weibo because Facebook and Twitter are both banned in China . He goes on to report already New Zealand Business is firmly entrenched in its user base he names companies such as Air New Zealand, Fonterra, Massey University and honey-products maker Comvita. Currently according to this article Air New Zealand China has 143,000 followers and posts updates two or three times a week to a potential Chinese tourism market worth $670 million a year to New Zealand.
Tourism NZ are also listed in Weibo with a steady growing fan base of 245,000. It is noted that in one recent campaign a post attracted 2.16 million viewers. That is half the population of NZ do you think this might be a sales channel worth considering.
Vintage Social Media is dead long live the new format. So in answering the original question “where is my ROI?” it is in the creation of strong social profile for their organisation. The return on investment is potentially very good based in current facts, but it important to plan a social strategy.