That’s the question Mark Schaefer asks in his post, It’s not just ROI. It’s RELEVANCE!
Do you use a Rand McNally map to get anywhere? Not likely. Smart phones, GPS, and mobile apps have left the long-time map maker in the dust.
Likewise Kodak. That venerable company is now being sold for parts because they didn’t see any value in digital pictures.
Don’t ask what the ROI is on social media. It’s the wrong question.
In a professional services firm, you can’t calculate the ROI on each component of your marketing efforts. I mentioned that idea here. What is the ROI on letting potential clients know you are available and do good work? You get to stay in business and maybe grow.
Likewise with social media. You will need to get involved or you will get left behind.
I love this line from Mark:
I wonder what the ROI of bankrupt is?
I talked about that idea in my post Still wondering if Social Media is a big deal? Want to be in business 5 years from now?
Check out Mark Schaefer’s post.