Conversation is money on the internet.

Actually, today I had a quiz about the return on investment (ROI) in accounting class. I have only learned how to calculate ROI in specific company with precise figure. However, it’s an old way to calculate the ROI. As changing the environment of company, CEO and other employers have to apply to different way for determining the ROI. This is the ROI for social media.

Because of the power of social media, it cannot be ignored any more the ROI for social media. Before people evaluated their products by Mouth to Mouth (M to M) but, in these dyas, many people find the information on the internet and trust it more than M to M. Emergence of social media generates a different consumer-behavior depended upon internet so it is really needed to adjust this change and measure the ROI for social media.

When the company evaluates the affectivity of social media such as how many people see the information and share it with others in their blogs or other sites, this figure has to be QUANTITATIVE. Whether social media is successful or unsuccessful relies on how many people read the information. The quantity of Links and Traffic is included in measuring the ROI for social media.

Links
After getting on the homepage of one of these sites you should see an
increased number of incoming links, which should lead to an increase in your
search traffic.

Traffic
Sites like Digg can drive thousands of visitors to a website within minutes which can be very valuable to website owners. Granted those visitors may not click on ads, but if you have something that perks their interest they may sign up for it.

Also, the quantity of comments is another useful method to calculate the ROI.

The ROI for social media is more important than before, by changing the consumer-behavior, the result of what kinds of information have to be quantitative and measured for ROI. And now, such as the perspective of Jason Falls that “every session on measuring ROI in social media is a waste of time” is wrong and it’s time that many CEO have to consider the precise quantity in social media seriously.

Cited Site:

http://www.pronetadvertising.com/articles/measuring-the-roi-from-social-media-marketing.html

Photo Credits:

http://www.trendbird.co.kr/758

I first know Twitter through the ITEC’s reading.

Form the wikipedia, Twitter is a free social networking and micro-blogging service that allows its users to send and read other users' updates (otherwise known as tweets), which are text-based posts of up to 140 characters in length.

People can access to Twitter either laptop or your mobile phone anytime you want. It is the strongest point in these days because mobile phone occupies the bigger and bigger part of their life and is better to access internet than through laptop or desktop.

Twitter has interesting characters and opportunity in business.

1. Social networking site: It’s based on the relationship which is already known the person and then extends their relationship to other people who participate in Twitter. We can use the relationship based on Twitter, as like James Karl Buck case.

2. Reply culture: through the internet, all over the world, people can write the comments about the topic immediately and it can be a play to leave funny comments.

3. Citizen journalism: It’s possible to exchange their daily life without delay, so many people in Twitter can be the fastest citizen journalist in the whole world, such as China earthquake.

4. Conservation marketing: If one person writes his/her opinion about the product, anyone can add their opinions about the products on the comments freely. It can be a good source to one who thinks whether buy it or not.

However, Twitter promotes an atmosphere that people make anonymous relationship through the wireless than face-to-face. In addition, does it really need to share their every action through the internet and know other’s every movement? Sometimes, I think it needs to be far from the internet and enjoy one’s own time. I often feel many people too much be attached to appliance which can access to internet and to anonymous people.