ROI gets thrown around a lot in marketing circles. You can’t measure it. You can. Blah blah blah. However, as any finance major will tell you, ROI (return on investment) has a very specific meaning. Stefanos Karagos reminds us what ROI is and how it can be measured in social media. I know I posted a presentation yesterday, but this one really is important enough to see asap. Thanks to Brandon Chesnutt for posting the link to this presentation.
News & Notes
The Rise of Social Commerce
It’s no secret that companies are trying to leverage social media to sell things. The trick is in figuring out how to social networks as something more than another promotional channel. Social commerce (online) is still relatively new and companies are still trying to figure things out. Lora Cecere and Jeremiah Owyang from the Altimeter Group recently gave a webinar on some of their research findings about social commerce:
Ratings & Reviews – Are You Ready for Feedback?
Having comments and reviews on websites is all the rage. Why? Usually because everyone else is doing it. Site owners feel pressured to allow customers to add their feedback because of the popularity of sites like Yelp and the fact that large ecommerce sites like LLBean and Amazon have them. But if you’re not ready for feedback and not set up to monitor for feedback, adding rating and review functionality to your own site may cause headaches. [Read more…] about Ratings & Reviews – Are You Ready for Feedback?