The first thing that comes to mind when I see the term social media ROI is Tom Cruise’s sweaty face in Jerry Maguire: “Show me the money!”. Is that what justification for your investments is all about with social media? Is there only the financial objection when you start with social? And do you even have a choice? Einstein had an opinion about this years ago.
The time when ROI was just a formula is over. Major (social) marketing experts (and Einstein) know what it's really all about. And anyone who has an opinion about the ROI of social media, what it ultimately delivers, has one of the following views:
Approach 1: Just do it!
You don't have to be born a social media expert. You can also become one through something that happens to you or through the list to data way you run your business. Gary Vaynerchuk is an example of the latter. He grew up in the wine trade and now gives lectures on social media. In a very inspiring way. His statement "What's the ROI of your mother?!" is an intriguing example of this.
In the video above he explains that the ROI of social media cannot be determined. There are no one or two moments that can be defined that made you successful via social media. He compares this to the upbringing by your mother: you cannot measure what happened to you when your mother said something to you on a certain day. Or gave you a compliment. Because of which moment in your upbringing did you become who you are today? That cannot be determined. You are who you are because of the entire process of upbringing, from beginning to end.
It's the same on social media. Just do it , or, just get started with social media and you'll automatically see the return on the investment you make. Companies like Zappos and KLM with its KLM Surprise are examples of organizations that weave social media into their culture, don't look at the hard results, but know that a positive mention is worth a lot. Even if you can't put a dollar or euro sign in front of it.