What's the ROI For Facebook?
As a social media marketing agency, we energetically try to sell our services to businesses that need a little help or slight nudge regarding their Facebook presence. During our pitch their response often times is “I think we are all set with Facebook, or We really don’t see the value in spending resources in it.” We chuckle using our inside voice and maintain our profession bearing, but in reality what they are saying is, "We don't fully understand how to use Facebook in our business scheme." We then tactfully let the person on the other line or across the table know that there is tremendous value in Facebook, as long you do it right and it's part of a larger strategic marketing plan.
The prospect on the other end of the line has been taught from business infancy that whenever you spend money on your business, you must measure the ROI or Return on Investment. Therefore, we always expect the question “can you tell me what the ROI of Facebook is?” I'm willing to bet that some version of this question has come from your lips when discussing Facebook as a marketing tool for the first time.
Unfortunately, that question without further clarification or specific business context is not in itself a valid question in todays marketing environment. As Gary Vaynerchuk explains in the 3 minute video below during a popular rebuttal to the question of measuring ROI of social media (including Facebook), it's like measuring the ROI of your mother. As he states, measuring the ROI of your mother can’t be done, but yet everything your mother did for you created the basis for your next move in life.
Such is the cumulative effect of a well done social media marketing campaign for your business, which by the way, Facebook is a key component. Something to ponder, with over 86% of Americans being active internet users and 90% of Millennials active on social media, any business desiring to remain relevant in the coming years will add social media marketing to their strategic business marketing plan.
Note: Our goal is to keep our blog content as clean as possible, however, please pardon a few F-bombs in Gary Vaynerchuks response below, obviously not within our control. If the words will offend your senses, please don't watch...thanks.