I read this article what is the ROI for social media which had a very educative video on social media for this week discussions.
In the business world, the CEO's or Senior Marketing Officers are primarily concerned on generating income and boosting sales, they pump money and make huge investments in social media and are highly expectant of returns but according to Jason falls of the social media explorer the problem with trying to determine ROI is trying to put numeric quantities around human interactions and conversations which are not quantifiable.
The idea of social media out there is communication. In communicating, we build relationships with customers and different people. The CEO'S are simply interested in getting money but is it just about the money?the return on investment truly is the healthy conversations and content out there. You building a relationship out of trust and getting meaningful content from conversations should be regarded as ROI not the customers hard earned money.
People are not going to be happy if they realize that the goal of the social media expert or personnel during discussions or interactions is to extract their money and empty their pockets.
Customers need satisfaction and trust!!!!!
Humans are good marketing agents and thus building trust in a customer of your product can boost sales of the product, by one person telling a group of friends or colleagues, family members, etc but it all depends on the conversations.
So as a CEO,which is more important to you, a potential customer's money or trust?