Monday 30 May 2011

What is the return on your investment in social media?

I have a lot of time for Michael Stelzner and the folk at Social Media Examiner, one of the world’s top ranked business blogs.

Everyday I gain something of value from reading or watching. I recommend subscribing.

A recent blog was about simple ways to calculate social media return on investment. You can read the full blog here.

ROI is a hot topic everywhere right now. I expect it will get hotter. This Social Media Examiner blog prompted me to really think hard about what return I am getting from my own investment in social media/networking.

Social Media Examiner say ROI measures the efficiency of an investment.
I say ROI also measures the effectiveness of an investment.

I invest time, intention, feelings, thoughts, actions, and money into social media/networking. I am primarily interested in how long it takes me (efficiency), and does it achieve the kind of results I want (effectiveness).

For me in terms of efficiency, I am happy to invest up to an hour a day providing value online, providing I achieve the following objectives (effectiveness):

1. People buy my changing what’s normal book
2. People subscribe or sign-up at relationship entry points such as my monthly ezine, my e-learning trial, my performance possibility pulse check, join differencemakers community, subscribe to my blog and/or YouTube channel
3. People inquire about my services

I have weekly goals for these three objectives.

What are your weekly objectives and your goals for each?
How efficient and effective are you?

In other words what kind of return are you getting on your investment in social media/networking?

The more we understand ROI for our businesses the more we are able to understand ROI for our customers. For the foreseeable future ROI matters most to most people in business.

Be the difference you want to see in the world
Founder Differencemakers Community

PS For a short time only you can buy my Changing What's Normal book and 24/7 access to the companion web page that contains downloadable files, references, links, tools, tips, techniques, templates, for just $30 here.

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