It’s called ROI, but not so many people understand how to make the math of how the make their return of investment.
Let’s take a step back. Social media is a relationships media. It also made everyone (companies, organizations, governments, people) become media outlets.
Only some entities know how to be media outlets. Not even all media outlets know how to be media outlets in social media. Not every entity needs to be a media outlet. Some of them, when they try, they post crap, crap communication, intelligence insulting media, or worse, they don’t get what to do with all the hundreds of thousands or millions of fans. What the hell do you give your fans? How do you engage them? How do you make them talk about you? And, is PR all you can do with Facebook? If the answer is yes, then I’m sorry, investing PR and advertising in Facebook doesn’t give you good ROI. Unless PR and one way communication is all you seek.
Social media is a relationships media, that’s the basis of the understanding. But, in order to understand how to monetize your Facebook, you have to also understand that money in social media doesn’t come in a direct way, it comes indirectly. The third thing is that you have to understand that you’re holding a treasure in your hands, you’re holding information, so all you need to do is figure out a way (and there are few ways) to understand who your crowd is. Once you realize who your crowd is, start thinking marketing, then think sales (marketing and sales are not the same), but, and it’s a big but, NEVER let anybody, any one, ruin the relationship you have with your fans on your pages, ever.
Last thing, media outlets make money in a certain way. Are you a media outlet? Do you know how media outlets make their money?
So, to conclude this in four points: One- social media is a relationships media. Two- money in social media comes indirectly. Three- your fans are a treasure- Get to know them. Four- considering you’re a media outlet (even if you sell sweetened water), learn how media outlets make money.
and now, a video worth watching by Gary Vaynerchuk: WHAT’S THE ROI OF YOUR MOTHER?