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Social Media Budget Planning and ROI

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This article is for anyone who is trying, wanting, or begging to understand why social media isn’t working within their organization. It is for anyone who feels like the application of social media within their business is hand-cuffed by a departmental silos and cultural ignorance.

You could be a line worker trying to do something new, middle management trying to organize your department, or an executive trying to establish where all this ‘stuff’ fits in.

I’m going to talk a bit about the fundamental viewpoint needed to make the correct long-term and sustainable social media budget and ROI choice.

My two opening statements

#1 Social Media should include marketing.
But it isn’t only marketing.

Social media budget should be integrated into a multidisciplinary support initiative covering holistic impact points that spread through-out the organization. Costs should be scaled against the capability to deliver on specific benefit opportunities and the reduction of potential risks.

#2 Social Media is not a one-time cost.
It is an on-going asset that grows.

While marketing often revolves around short-term project goals, many of the primary benefits of social media reside in long-term areas of the organization. These include such categories as customer service, employee knowledge management, talent acquisition, brand growth, and market leadership. Failing to have strategic and actionable a one to five year plan for the adoption of new trends is a sure-fire recipe for disaster. Read more