ROI and ROE
It’s a whole new world out there and measuring success looks different, too.
ROI is not just about measuring the past but also, more importantly for the marketer, providing insights to improve marketing actions in the future.
- Steven Groves, Founder, Social Marketing Conversations and co-author of "ROI of Social Media"
In this networking, word-of-mouth marketing, virtual world of Social Media we must track your ROE or "Return On Engagement" because it has a tremendous effect on your ROI. You can count clicks, tweets, retweets, posts, blog comments and more to gauge the interaction you are having with current clients, client prospects and potential referral sources. And while those numbers are important, it’s crucial to look at how engagement on one social network has moved you to another, the number of people you’ve connected with in your conversations and the types of conversations and revenue generating opportunities you uncover along the way. Today, we can even track the social contacts that convert and become your clients. With all this information, you’ll be able to calculate your return on investment.
Your Return On Engagement is measurable and long-term. For more information on how to develop and implement your own social media strategy, call us today at 720.248.8185 or email us at info@friedmansocialmedia.com. We'd love to help you jump in and show you how to turn ROE into ROI.
Just look at these astounding statistics.- A LinkedIn profile reaches around the world, 24/7 for an unlimited timeframe. While an ad in the local paper lasts a day or two, is seen by a limited readership, is not searchable online and cannot easily be shared with others. This is true for your YouTube channel, and your Twitter, Facebook, Pinterest, and other networks used to enhance your online presence.
- Executives from all 500 of the Fortune 500 are represented in LinkedIn at director level and above.
- Close to 200 million people are part of LinkedIn (according to LinkedIn itself) today and it has become the strongest site for working professionals.
- Facebook announced it has more than 1 billion active users, each with an average of 130 friends and roughly 50% of those users log onto Facebook every day.
- According to Inside Facebook, its largest growth is among older users with those 35-44 years up nearly 400%, those 45-54 up well over 400% and those 55-65 up over 550% year over year.
Why Let The Friedman Group Enhance Your Online Presence?
- The cost of your reputation is PRICELESS. Making a wrong step in the online marketplace can be costly. We understand and will help you use social networks to provide precisely the professional voice and presence you need in the marketplace. Rely on our expertise to make certain you comply with your industry rules and regulations
- Third party endorsements create immeasurable value. We facilitate the use of social networks as a neutral third party to credibly spread the word about your skills, achievements, experience and offerings.
- Not paying close attention to the conversation can cost you. Once you are engaged in social media conversations, sometimes the tone can take a turn you don’t anticipate. Since social networks are open to both pro and con discussions, we monitor them closely and redirect the conversation or remove inappropriate content quickly.
- You need to concentrate on your bottom line. The hours spent to properly maintain your online presence can add up. When we handle this important task for you, you have time to concentrate on billable hours and focus your valuable time on your core competencies. You may even have some time left over for your family, friends, or even some time on the golf course.
