Sunday, April 18, 2010

Using ROI in Business

We have been learning social networking and business. In this point, with my last posting in Social Networking & Business class, (but it will be continued, I’m sure!) the question is “: What’s next?” I thought about it while I watched a YouTube video and read an article about ROI.

In Social Media: Socialnomics, there are many numbers from several researches about social networking and ROI. Yes, it’s true. The Internet is the best way to promote and advertise a product, person, company, etc. Advertising through Twitter can bring 1,800 new customers with $0 of money. It is wonderful result in the marketing and financial department of the company.

I feel this effect when I am looking for my internships. I was surprised that many of companies noticed on the homepages that they want people who are able to use Facebook and Twitter for the job. I think it represent the flow of social networking in business well. And I think that’s because they know social networking on business is not always working in the positive way. Sometimes, customers with complaint make chains of furious consumers in the web sites. More and more companies are looking for employees who will control that kind of result.

3 comments:

  1. It is definitely a great skill to have if you know how to work social networks. It makes sense that companies want to hire people who know how to use these because the internet is the next way to make money. There are all types of opportunities available on the internet and companies need people who know what they are to succeed.

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  2. Although the physical cost of twitter is $0, I think it also come with large opportunity cost including the fact that building consumer relationship on facebook etc is very time consuming and takes skills. So I agree with you that people who know around the social media and who can utilize them will be appreciated in the work place.

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  3. It's true that businesses are trying to control what is being said about them on social networking sites. But they have to realize that they can't control what people say. That's the whole point of being on social networks. However, they can address these problems, like what Southwest and Comcast has done.

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