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After learning about what my friends think of the Celtics, the thing that gets me most excited about social networks is how they can be used to help us make decisions. What Simply Hired has done to integrate Facebook friends and your LinkedIn connections into its job search engine is a great example of how social networks can be a valuable and productive tool.
I came across this amusing presentation on Slideshare on measuring the ROI of social media. It seems that everyone has something to say about this topic, including me here, here and here, but this one is very unique… and fun to watch.
It’s point is that you cannot measure the ROI of social media by just looking at social media data. The impact social media can make on a business can be significant, but it is non-financial. One of the classic comebacks in the social media ROI debate several years ago was “how you measure the ROI of putting on your pants?” (The funny thing is that this golden oldie surfaced again in an AdAge article just last week so I guess it’s getting a second wind.) The idea is that interaction with prospects in social media… and putting on your pants… are all critically important to the outcomes you achieve in your day, but you cannot arrive at an ROI by analyzing that activity alone. They are important precursors to the business transaction where the financial impact of the transaction occurs. This is the only point where ROI can be measured.
For a college student, entering a College Career Fair venue is like walking into a cafeteria. Both facilities are crammed with decisions, persuasion and the uncertainty of what to choose or where to turn next. Sure, students have to do some impressing, but at College Career Fairs, companies are the ones who possess the task of attracting top talent. Students and representatives from companies both play eminent roles in the career fair game. Students have to take off their sweats, conjure up a resume and bring their A-game to prove they are worth a closer look. Companies on the other hand need to stand out amongst a crowd and portray themselves as the entrée students wait in line for.