Identifying the ROI of a Social Media Community

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One of the things many social media purists will tell us is that we can’t “monetize” social media communities. A social media community is a warm, fuzzy place where no marketing should occur, and we simply talk about how cool social media is for individuals and brands alike.

The problem with this is that it’s impossible for any business to remain afloat without sales – and a smart business knows this along with another key point: their social media community can drive these sales.

By identifying who’s driving traffic to a product page, and which community members are the most respected and listened to, a brand can react to this new information, improve their product and/or adapt their own messaging to better serve that community. Do that, and your return on investment becomes truly measurable and scalable.

So how do we identify these community members? Mark Miller was kind enough to invite me onto his 30 in 30 series to chat about that exact conundrum, and a few other things in-between.

I hope you enjoy, and make sure you check out the rest of the 30 in 30 series so far, there are some great discussions over there. Cheers!

Republished with author's permission from original post.

Danny Brown
Danny Brown is partner at Bonsai Interactive Marketing, a full service agency offering integrated, social media and mobile marketing solutions. He is also founder of the 12for12k Challenge, a social media-led charity initiative connecting globally and helping locally.

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