ROI Questions | Mark Bortz on the ROI of Social Media
What is the Return On Investment for having lights in your office? It seems like a dumb question until you try reading quarterly reports in a dark room. Seriously, what would be your first thought if you walked into an office building with no internal lights…and ta-da, this is going to be your new workspace!? Truth be told, I’m rather partial to working with people and companies that have indoor lighting. There is just something about not having to fumble about in abject darkness that really boosts my productivity.
Again, asking questions about the ROI of having good business ethics, having a phone, putting on your pants and smiling all sound like silly questions…but are they? It goes without saying that a CMO, CFO, or CEO must be accountable for spending and resource allocation, and without performance indicators, having accountability is impossible. The solution is to define what you intend to measure with this new approach.
What is the goal you aim to achieve? In social media marketing, knowing the Intent of Return (IOR) is what will allow businesses to define strategy and tactics to help them reach their goals.
