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How much time and money are you wasting on social media?

I am still hearing “We want a Facebook Page” and “We need to Tweet.”

And when I ask “Why?”, I still get blank stares that imply I am the dumbest SOB in the room.

A 2009 study by Mzinga and Babson Executive Education reported that 84 percent of professionals from a variety of industries said that they do not measure ROI within social media.

I was reading an article by Brian Solis in Business Week – that’s where the above quote comes from and is followed up with:

This, tallied with my own experience, suggests there is a widespread desire to jump into social networking without all—or even some—of the answers. But not making the attempt to explore metrics is not an option for businesses with long-term vision and goals. ROI does not mean “Return on Ignorance.”

Social media requires time and time is money.  Social media requires an experienced team that understands the lay of the land – and since the landscape changes so frequently, they also need to understand how to test the new stuff (Google Plus) and figure out how to incorporate it into the overall strategy.  (Assuming it gets incorporated at all.)

Test.  Measure.  Analyze.  Modify.  Repeat.

If your promotional efforts aren’t built around those 5 words, you’re missing an opportunity to learn and improve sales and marketing performance.

You want to have a Facebook Page?  Is your audience there?  What would be ‘success’?  How can that Facebook Page deliver ‘success’?  What will it take to develop, launch and manage that Page until success is achieved?  Does it make business sense to invest your limited resources in this endeavor – or does it make sense to focus on other things that deliver a better return?

Stop making snap decisions without a clear understanding of what success will be – you don’t have the abundance of resources you need to do it all so do what’s best for your business in a measurable way.

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