With all the hoopla about social media, the real cost is often overlooked. Staff time, developers, and creatives aren’t free. I ran across a great infographic this morning that took a good hard look at the costs and ROI of real world case studies.
Staff/Tech Costs:
The Increased Value of Facebook Fans:
In a recent survey conducted by Syncapse, 20 brands were evaluated to see the economic potential of having fans on Facebook. These are some of the results from the most recognized brands. (Caption copy from infographic)
Check out the full infographic from Focus.com (Very worth your time.)
the real cost of social media | netzkobold - Frederik Hermann 11:27 am on May 20, 2011 Permalink
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Smart Poster 5:39 am on May 23, 2011 Permalink
At last we can see some facts and figures. Facebook and other channels are being promoted as the the next marketing medium. Yes this stragegy may work for some brands but there is a price to pay. For many small businesses it won’t work. to me facebook is the new snake oil for companies who can’t sell their inflated seo services any more.
Pat McCarthy 6:41 am on May 23, 2011 Permalink
It is certainly refreshing to see the benefits AND the costs. I think you make a good point about small businesses. But I wouldn’t go so far as to call social media snake oil. There certainly are measurable benefits. However, there are rarely miraculous benefits. Social media offers a new opportunity to engage and amplify a brand’s image, authority, reach, you name it. It’s no silver bullet, but it’s certainly a useful tool.
Thanks for the comment!