Social Media Success Stories

By Erik Qualman, Search Engine Watch, Nov 16, 2009
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Social Media Success StoriesWhat is the ROI of social media? How do I measure the ROI of social media? Often, when receiving these questions, it’s appropriate to quip: “What’s the ROI of your phone?” Other times it’s not appropriate to respond with such a glib retort.

Rather, it’s more appropriate to point to a few salient examples of social media success. With that in mind, I put together a four-minute video showcasing such examples.

While the video uses familiar nomenclature like ROI, I believe in most social media instances, it’s better to use the standard of: What does success look like? After all, why are we trying to measure all aspects of social media like a traditional channel? Social media touches every facet of business and it should be viewed more as an extension of good business ethics. Which, if done properly, will harvest sales down the line. Co-Chairman Alex Bogusky of Crispin Porter & Bogusky puts it best when he states: “You can’t buy attention anymore. Having a huge budget doesn’t mean anything in social media… The old media paradigm was pay to play. Now you get back what you authentically put in. You’ve got to be willing to play to play.”

Fourteen of the most pressing points from the video are listed below. A full list of the data points and sources can be found at my blog:

Example 14, below, highlighting case-mate, isn’t in the video, but it showcases that an intrepid spirit and creativity can garner huge returns in social media. Gary Vaynerchuk says, “Smart companies will do this (social media) and win, dumb ones won’t and they will lose.” It’s as simple as that.

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To read the full list of success stories click here