When People ask me What’s the ROI of Social…

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on Aug 23, 14 • by • with 6 Comments

When people ask me what’s the ROI of Social, I ask them… what’s the ROI of Trust, and what’s the ROI of Loyalty. The answer, when used to build relationships the results will be… longer lifetime value of a customer, larger average order value, and increased frequency of purchase. All measurable and all lead to increased sales and profits.

Brands/Companies that use social successfully reap the rewards of customer satisfaction, deeper employee loyalty, more effective knowledge sharing, improved brand reputation, lowered costs, and most importantly… increased revenues.

ROR (#RonR) = ROI

Great relevant post here via MIT’s Sloan Management Review… Is Your Brand a Living Entity?

 

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6 Responses to: When People ask me What’s the ROI...

  1. Brandi Riley says:

    GREAT ANSWER, Ted! Social doesn’t matter and impressions can’t do anything for you, if people don’t trust you! How many brands have gained an increase in followers when they’ve messed up? People like to see a train wreck. Be attentive to the needs of your followers, and you’ll have people following you because they genuinely LIKE you!

    • Ted Rubin says:

      Focus on the relationship first, getting to know your prospect and giving them reasons to stay engaged… not just getting them to react.

  2. Hello, yes this post is truly good and I have learned lot of things from it
    on the topic of blogging. thanks.

  3. Great answer. It is very simple and fundamental to focus on lifetime value. Successful Social Relationships–>better customer relationships–>Greater Lifetime Value.

    Thanks Ted!

    • Ted Rubin says:

      Exactly Rodney! Relationships are like muscle tissue… the more they are engaged, the stronger and more valuable they become. #RonR

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