When it comes to Social Media for business purposes, the number one question on the minds of many owners and managers is what is the ROI? What does a Facebook like mean for sales at the end of the day? How many customers will read and respond to a tweet? What is the value of a share in Google+? The fact of the matter is without a significant investment setting up an effective multi-channel attribution model using analytics, associating a dollar figure with a company’s Social Media efforts can be a real challenge.
At this point in time it is better look at Social Media as forward thinking community building. More and more, a company’s website and online presence is the storefront that customers see when they interact with the business. Being an option in the SERPs for all relevant keyword inquiries is a great way to establish trust with potential consumers. Being active in Social Media is a great way to show up in the SERPs for more than just your website. Facebook “likes” have been showing up in the organic results on Bing from other friends. +1 have shown up in Google. There is also every reason to believe that Facebook will be releasing their own Search Engine in the not to distant future to capitalize on the volumes of data that they are collecting on users. There have been a number of articles including this infographic from Wordstream that demonstrate that Google’s adwords is generating over $100 million per day! Given this statistic isn’t it easy to envision Facebook rolling out a search engine for its millions of users.
Implementing sharing schedules for Facebook, Google+ and Twitter of relevant community and business news will get your company on track for a future that certainly will be ever more influenced by Social Media. The key is to participate, find where you customers are and stay one step ahead of the competition!