6.12.10 /

SOCIAL MEDIA AND THE BOTTOM LINE

As constant explorers of new ideas, we are easily drawn in by flashy things. Social Media is a vast untamed frontier where seemingly anything is possible. Location based services, augmented reality, stores knowing who you are and what you like when you walk in the door... the leading edge of marketing today is yesterday's science fiction. 

Remember the film Minority Report? Ok, so as far as we know the government doesn't have precogs hidden away somewhere foretelling the future, but many of the once outlandish notions in that film are quickly becoming real. 

The question is, does it work? Does social media brand buzz drive the bottom line? Can Foursquare drive sales? Can tweeting get butts in seats? 

For a long time smart people who like numbers more than pictures have been trying to answer this very question. And now the data is beginning to build. It was once said that the ROI of social media is that you will be in business in 5 years. Sounds nifty, but kind of hard to use in budgeting. Now a number of reports are coming out showing that well planned and deftly executed social media efforts can indeed drive sales. Here are just a few.

A recent story on Mashable looks at a new report exploring the value of a "fan"

A Futurelab story on Likes vs. Engagement and the Top 10 Social Media Brands

A story about how Starbucks used social media to get 1 million people to their stores on one day

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