How to Justify Social Media for Small Businesses? – Business 2 Community
Good Article on Business 2 Community. Often, small businesses find it difficult to justify expenses related to social media marketing. Below is an excert from this great article:
“In one of my pins I showcased how social media is exploding – 1.2B likes in a day, 400M tweets, 10M Linkedin endorsements and this is on a daily basis – http://www.pinterest.com/pin/483011128757243756/. So when I was talking to one my clients about different ways of promoting his restaurant he could totally relate to some of the offline strategies but when it came to social media he just shut his mind down. My opinion is that most of the restaurant owners are in the same boat.
With restaurants having very tight budget the question would be “how to justify spending on social media”. It is very easy to come up with the cost figures based on the consultant/internal hire, resources spent on deals, staff training costs etc but the issue is how to calculate the revenue impact on restaurant from social media activities. Some of the activities you carry out on social media might have a direct correlation to your bottom line and some you should guess at best. On the whole everyone agrees that social media has become an integral part of a restaurant’s marketing strategy. This article is an effort to quantify the metrics associated with social network – number of fans, reach, people talking about you etc into a more tangible/bottom line figures so that any layman can understand.”
See on www.business2community.com