Calculate your IIE (Investment In Expectations)

“What’s your Twitter ROI? How to measure social media payoff” by Mary K. Pratt (ComputerWorld.com, 21 September 2009). Ms. Pratt crafts a soft, user friendly overview of some of the ROI issues that are confronting organizations as they migrate their brand into the realities of Web 2.0 and beyond. If you’re in this camp then this article will let you know that you are not alone.That said, aren’t these the say type of questions we asked 10 years ago as the internet went mainstream? My stock tongue in cheek joke is — The internet, I hear it’s gonna be big.

Unfortunately, the article misses the mark on the point of social media, Web 2.0, etc. and the associated shift in the paradigm. The world as it now exists isn’t about the brands, it’s about the guests. I’m certainly not going to suggest that any effort be pursued at all costs. We are talking business after all. However, the old mind set of, is what I’m spending going to get my customers to do what I want them to, doesn’t really apply in a world where the guest has the power. The question guests now ask is, is brand such-n-such doing what I expect? Are they living up to MY expectations?

In short, you don’t really have a choice.

You’re going to have to surrender to the fact that some of the old measurements (of control) no longer apply. The approach needs to more holistic. There needs to be effort put into being part of the conversation (and stop focusing on leading and/or manipulating it). For example, the reality is, you don’t have to tweet. However, you do need to give people something to tweet about. It’s amazing what you can get for free if you know how to play your cards right. The fact is, in the history of business, no marketing tool has been more cost effective than word of mouth/Tweet/FB status.

Actually, you have two choices. One, figure it out now. Two, figure it out later. Either way, you will have to figure it out. These things — whether it’s Twitter, Facebook or their eventual cousins — aren’t going away anytime soon. If you wait to make the investment in understanding and using the tools then you will only be that much further behind the curve. This isn’t a sprint, it’s an ultra-marathon. So while you’re scratching your bum, focused on ROI, others are being guest-centric, putting their self-interests aside for the moment and pushing forward knowing that the return will come.

Because as we all agree, standing still isn’t the key to success.

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