Socionomics takes on Social Media ROI

February 18th, 2010 No Comments

I’ve already written about social media ROI before, but this socionomics video further shows the economics of social media. As a recent HubSpot report showed, inbound marketing has a 60% lower cost per lead than traditional, outbound marketing. Companies that have a higher level of social media have higher sales. Gary Vaynerchuk was able to use the Internet and the power of video blogging to turn his father’s Shoppers Discount Liquors to the powerhouse that Wine Library is today.

Just a few stats from the video about how the Internet and digital marketing helps businesses save costs:

  • Lenovo had a 20% reduction in call center activity as customers go to their community website
  • Burger King spent less than $50,000 on their Facebook application — leading to over $400,000 in press and media value.
  • Blendtec tripled sales with its “Will It Blend” YouTube videos
  • 37% of Generation Y were aware of the launch of the Ford Fiesta via social media before it’s US launch. (Great car, I want one!)
  • 25% of Ford’s Marketing is spent on Digital/Social Media – They are the only US automaker that didn’t take a government bailout
  • Software company Genius.com reports that 24% of social media leads convert to sales opportunities

Leave a Reply