Yes, we were at SM Day 2011 and yes we had fun. Thanks to Olivier Blanchard (@thebrandbuilder) for the insightful talk he gave on Social Media ROI (and FRY). If you didn’t knew about the FRY-concept yet, go and read his book. It’s actually good! The business approach is quite necessary, because let’s face it… Without a dollar-value return, social media is just… well, a waste of energy and a futile attempt of someone that wants to look cool.
The talk was very interesting, but trying to upload over 16 years of experience in one afternoon is for some people a little too much to take
Anyway, I have found great merit in the workshops of Olivier. As I’m also being confronted on a near-daily basis with client’s questions on social media and “how to incorporate it in our marketing strategy”, it is inherently a wrong angle to look at it, IMHO. We should rather transform this into a more useful question: “what’s your business model, and how can we improve, or extend, this model by using social media?”.
To sum it up. It’s all about the ROI and proper business use of social media to extend and leverage existing efforts in customer acquisition, lead generation, cross-selling, etc. Nothing more. Nothing less. The primary driver of Social Media is therefore business-driven that can be measured with a well-defined set of metrics. Successful marketing/advertising is only a side-effect when doing this right…