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Forrester Research Projects Rapid ROI on Social Media Investments
Colleagues,
As reported in ZDnet ... Citing Natalie L. Petouhoff, Ph.D., an analyst at Forrester, and her study titled The ROI (Return On Investment) Of Online Customer Service Communities ...
... Consumers are rapidly adopting social media communication technologies and behaviors ... This approach seems to have great promise; however, there is little documentation at present on the cost-effectiveness of incorporating social strategies and technologies for businesses. Forrester talked with early-adopter companies and reviewed the solutions from leading vendors to understand the variables to consider for determining the business value of online communities for customer service and support. The early evidence indicates that social technologies are a sound choice because they provide an attractive ROI in a short period of time...
... A hypothetical company will need to invest in a social network over the first three years in costs for designing and maintaining the social media Website, integrating the site with internal sales, marketing, and knowledge management systems, paying a project and community manager to build and oversee the site, and analytical software...
... However, payback is quick, Forrester finds. A company that invests in a well-tuned social network will probably see a payback almost twice that amount ... Meanwhile, the payback will continue for years going forward...... The challenge is getting upper IT management on board with the social networking trend...
Read on & Comment at: http://blogs.zdnet.com/BTL/?p=21275
ENJOY!
CC
As reported in ZDnet ... Citing Natalie L. Petouhoff, Ph.D., an analyst at Forrester, and her study titled The ROI (Return On Investment) Of Online Customer Service Communities ...
... Consumers are rapidly adopting social media communication technologies and behaviors ... This approach seems to have great promise; however, there is little documentation at present on the cost-effectiveness of incorporating social strategies and technologies for businesses. Forrester talked with early-adopter companies and reviewed the solutions from leading vendors to understand the variables to consider for determining the business value of online communities for customer service and support. The early evidence indicates that social technologies are a sound choice because they provide an attractive ROI in a short period of time...
... A hypothetical company will need to invest in a social network over the first three years in costs for designing and maintaining the social media Website, integrating the site with internal sales, marketing, and knowledge management systems, paying a project and community manager to build and oversee the site, and analytical software...
... However, payback is quick, Forrester finds. A company that invests in a well-tuned social network will probably see a payback almost twice that amount ... Meanwhile, the payback will continue for years going forward...... The challenge is getting upper IT management on board with the social networking trend...
Read on & Comment at: http://blogs.zdnet.com/BTL/?p=21275
ENJOY!
CC
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