ROI + Blog + Social Media = joining the conversation as competitive advantage

Following the article “Social Media + Consumer Opinion + Brand = opportunities brands have to join the conversation“, it was necessary to add some words about ROI brands can leverage joining the conversation. I would look over 3 different stages of what I call “joining the conversation” to speak about the social media ROI: taking the floor by blogging, monitoring social networks and contributing to the social media, and social media advertising using knowledge and network acquired through social media activity.

1st part of the Social Media ROI rocket: ROI of blogging

As Chris Garrett explains in his post “The ROI of business blogging“:

There are three areas where blogs provide a return. Attraction, Stickiness and Conversion.

Indeed, blogging provides you with smart things when well done (e.g. when blogging is the based on an editorial strategy and aiming at determined objectives):

• SEO optimization, targeted traffic attraction (outcome of SEO optimization, and vice versa),
• Thought-leader positioning
• Human voice, easy sharing interface with consumers (not meaning consumers would spam you, they’ve got more interesting things to do, fortunately)
• Ability to story telling, inform, advise, and discuss as fast as speaking (or almost).

2nd part of the Social Media ROI rocket: ROI of social media contributing

Being part of the conversation through blogging (”virtually speaking”), you need to keep an eye on your reputation, and so doing to check the social networks, from blogs to twitter and Facebook. Take it as an advantage (it is in fact) and contribute. That move gives you the following credits:

• Trendwatching and anticipation abilities that lead to more efficient and accurate information to deal with the customer relationship management (did I say CRM?)
• Expertise position on your business area (for the moment you can be the first on the social media floor or start with few competitors)
• Networking and grow your influence network (that you can then use when needed)
• Awareness and spread of your brand over influential people

3rd part of the Social Media rocket: global ROI provided by social media

Social Media would definitly help your brand access a different level of awareness among interested consumers through generating a human to human conversation, and among influential people thanks to your social media presence, which is still something unusual (for the moment). That leads to the following ROI item:

• Brand equity: competitive advantage compared to brands not using this new communication channel and precise strategic position as well as competitive differentiation with competitors already in the place
• Awareness: thought leadership ability
• Customer loyalty: brand fans enhancement through proving the brand is innovative and available for its customers

Last item to help you understand usefulness of a social media strategy? Think of what a person working as your brand evangelist among the social network can be for you: PR, trendwatch, connection manager, community representative and manager, customer interface (not a support team member), and above all a communication hub between consumers and brand. Would you pay for that? (last thing is to find the right person, which would be the subject of another post)

Resources:

• Fortune 500 business blogging
• Business blog ROI
• 27 resources for evaluating blogging ROI

To read more on that topic:

• GM + Social Media = Creating a fan base
• Social Media + Monitoring + Answering = Observing before moving
• Web 2.0 + Best Practices = Connecting and creating value
• Review of the Internet news of the Day
• Conversation + Business = Create Loyalty, Awareness, and Increase sales