The social media fad is gone, social media is here to stay…but if you look around and ask who is using it business wise, few will raise their hand. Reasons differ: I don’t know how to use it (properly), I don’t need social media presence (shame to even think this in 2011), … and what does this cost me and what are my net benefits?
Off course I don’t have an accurate answer, but I can tell you social media doesn’t come for free (at little cost, or little time). The next infograph (click it to see it in full!) shows different costs and generated benefits!
Always keep in mind: staff costs, external costs (building stuff you can’t do in-house), advertising (as part of the social media campaign) and others!
While main benefits often don’t mention a sales increase….but in my opinion still worth while since consumer satisfaction and engagement will probably mean more sales (as a second wave!)