Social Media ROI (extract)

The KISS Method for Social Media ROI

K=Knowledge management (collective knowledge): Provide some platform (wikis, blogs, networks) to capture individual employee's expert knowledge to become part of the organization's collective knowledge base, so when the employee leaves, knowledge stays. You may need incentives, such as 50$ gift card, etc.

I=Intelligence (needs assessment): Identify needs and ideas coming from your customers via the socme "R&D pipeline". Customers tell you what they like or don't like about your services or your competitors and tell what they want. They also share new ideas.

S=Sales (free marketing): Your customers will become your advertisers at cheaper price than traditional tv, radio, newspaper advertising. They tell about you to their friends, who tell to their friends, etc.

S=Support (call center knowledge): By implementing Knowledge Management you can save on call center technical/customer support since knowledge is stored and easily retrievable.

Why Businesses Need Social Media

extract from Business Revenue

Consumers expect that you participate. It would be a big error not to ride the oncoming big wave.