Topics for discussion:
• How to calculate your ROI with Social Media from the point of new start ups or Entrepreneurs?
• What Entrepreneurs need to know about Social Media and its ROI measurements?
• How Social Media has become a need for Entrepreneurs and how it can give them right return on their investments?
• How social media to Entrepreneur’s isn’t just an option anymore? It’s a necessity for most of the businesses.
The 19th Social Media Breakfast Kolkata Chapter was accomplished at Kolkata Knowledge Center of Compare Infobase Limited. The ROI generation of start-up companies via social media was the highlight.
The major pointers from the discussions are mentioned below:
• First of all, the start-up companies (ventures) should realize their business goals.
• There are differences between the product and service industry. Currently, the line of demarcation is blurred. Still, the same strategy of generating ROI may not suit both.
• Before investing in advertisements the target group needs to be identified.
• The Entrepreneurs can maintain and even increase their fan-following by frequent activities, contests and captivating content.
• The internet is a more effective vehicle for advertising because at present the numbers of hours people spend on the internet (per day) is much more than any other media.
• Social media need not give Entrepreneurs hard numbers as ROI.
• The social media is a very useful tool for spreading awareness amongst the net savvy generation. However, for closing a sale other approaches need to be adopted.
• Even if the start-ups are not active in the social media- they can make their presence felt- if few of their employees have huge fan followings in the social sites. (And of course, these employees are willing to spread the awareness regarding the products or services of their employers.)
• Finally, presence in the social media is very important for Entrepreneurs (including start-up companies) to draw new customers. But, to maintain client or customer base- the quality of the product or service should be maintained and upgraded (if so the situation arises).