Social media costs money.
We get it.
By now we've all come to realize that social media isn't "free". There are many costs, such as staffing and advertising (which this insightful infographic demonstrates) that marketers and business owners need to consider.
What I LIKE MOST about the infographic is that it goes on to list all the BENEFITS of an investment in social media, most of which are immeasurable. They (Social Media Today) list these benefits (which were gathered via an eMarketer survey) as a way of illustrating that marketers have dismissed "low cost" as a real benefit. A valid point to make, and an important one for their purposes. But to me, the most important point of this whole infographic is the fact that there are MANY benefits of social media, most of which are immeasurable, and all with considerable impact on the success of a business. Sure, we may not be able to calculate a numeric ROI (since we can't measure the total return), but the length of this list of benefits makes it hard to justify NOT investing in social media.
IMHO, there are a few missing from the list! Notably:
LESSON FOR MARKETERS
The case for investment in social media is compelling (perhaps overwhelming). The real question is whether or not you're taking advantage of all the benefits.
Any benefits that I missed? Don't forget to also check the ones in the infographic.
This blog is written by Glenn Cressman, Share Of Marketing's founder and Chief Share Builder (bio). It covers all things marketing. Feel free to comment!