Many times I am asked “What is the ROI of Social Networking?”
The answer is often unclear, ask any Social Media person. It is unclear because many of the Returns you receive cannot be measured in terms of dollars, or numbers.
As I tell many of my clients, the possibilities are endless with regard to Social Networking. The benefits may be new customers, better customer service, new suppliers, media exposure, new friendships, new business deals, knowledge on product &/or websites, and so much more! You learn more so much from open and honest dialogue with, essentially, the world! The audience is the largest you’ll ever encounter.
As I have been attending functions and reading articles online, I have been listening and brainstorming on the other possible terms that could and should be used with regard to Social Networking, and the “Returns” we receive. What’s your favorite?
ROR – Return on Relationship
ROE – Return on Engagement
ROL – Return on Loyalty
ROK – Return on Knowledge