The debate about return on investment for social media rages on despite the reality that there is very little financial wiggle room in today’s economic climate. I recently overheard someone complaining about management’s reluctance to test social media because the proposal didn’t include a method for measurement. He said that they didn’t require a return on investment for cleaning services, business cards, or lawn care, so why did they need one for social media?
Do we want to social media to be a cost of doing business or a tool for generating revenue?
If you argue for your limitations, you will own them. If social media is to be a viable marketing solution, it has to be measurable and sustainable. Limiting it to the expense column is shortsighted. A better plan is to find ways to measure the effect of social media on the bottom line.
What do you think?