How do you determine the ROI on your marketing and sales investments? The standard formula is simple: divide the return, less investment, by the investment. A marketing campaign costs $1000, and reaches out to 1000 prospects. Five per cent of these respond, generating $1000 profit, for an ROI of zero: (1000-1000)/1000. If the profit is $1500, then ROI is 50 per cent, if profit is $500, then the ROI is negative.
Randall Craig, president of 108 ideaspace, explains the focus on social media should be about creating real relationships in a recent interview with The LexBlog Network (LXBN TV). If you missed the interview, feel free to watch it here.
While corporations are trying to figure out how to use the Social Media carrot to entice customers to buy, customers are using a powerful Social Media stick to express disappointment and dissatisfaction.
Most people have a LinkedIn profile. And most people understand the importance that relationships play in building a business, making a sale, or getting the
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