What is the ROI of social media?
It isn’t often that one gets the opportunity to be at the forefront of a new industry. Imagine being able to take part in a major paradigm shift that changes the face of business forever. I liken being an early adopter to social media similar to being an early investor in the first railroad systems or commercial aviation. The pioneers in those fields built their fortunes by having a vision of the future and knowing what the consumer and nation as a whole needed, even before they did.
The internet and namely social media will serve as the conduit for creating the next wave of successful entrepreneurs. Never before has it be so cost effective for anyone to publish their own content and monetize it without the need for a middle man. We are now “in the dawn of one on one marketing”, all that remains is the leap of faith needed on the part of brands to enter this brave new world.
At the October 2011, Inc. 500 Conference in Washington, D.C. guest speaker Gary Vaynerchuk gave a passionate speech on why brands need to embrace the new business models proved via social media. Despite brand managers skepticism of the effectiveness of social marketing, Gary Vee makes a compelling argument as to why building a long term relationship with your customers is the surest route to achieving the much vaunted ROI of social media.
Every debate of the ROI of social right now, is the same conversation we had about e-commerce.
*This video contains strong language*
Are you ready for this paradigm shift in web engagement?
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