Social media – what about revenues?

Social media have reached some kind of mature state and I feel it is time to start asking the basic question – is anyone making any money? And by ”anyone” I don’t mean the consultants telling us how to implement Social media, I mean the actual users. Is anyone making any money?

I read the most wonderful descriptions and case studies of companies that have implemented Social media. Normally, it is within customer service one way or another – wonderful, a customer service agent can now do their job even better. But nowhere in these case studies do I see anything about revenues. Yes, it is notoriously difficult to tie one action to revenues, but overall it should be possible to at least see if the investment pays off.

You know what? Correct me if I’m wrong – but from what I see I have the feeling that this is just like in the gold rush, the only one making money is the guy selling shovels.

 

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