I was in this industry when people were starting to throw around the phrase Web 2.0. Video marketing was in its infancy, Facebook was only for college students, and MySpace was where you sold things to a 12-year-old. Along with my time in the industry, social media has grown from a conversation we had with clients, but didn’t really worry about, to an intensely competitive and important form of marketing.
As we traveled through the lifespan of social media marketing to date, we heard and said a bunch of phrases like, “revenue tracking isn’t really possible here” and “your revenue is in the engagement.” A quote that has stuck with me for years is from Lee Odden of Top Rank Marketing. He said at a PubCon about 5 years ago, “You don’t ask the phone company to report on the ROI of your telephone.”
From my perspective, I think Social Media serves multiple purposes in a business plan. It allows an easy and public form of customer service communication. This can be an invaluable asset to a business.
Social Media: Ubiquitous & Measurable
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