On this episode 38 of the Ask Gary Vee Show Gary answers the following questions from his vayniacs on Twitter.
01:05 – Can anyone create good micro-content? How can you make sure your team consistently creates good content?
04:19 – What are your thoughts on podcasters and YouTubers building a business model around donations?
06:43 – What’s up with virtual reality?
12:08 – I know you hate talking about ROI but how do you show someone there is a true return on your efforts on social media roi?
16:16 – What do you feel is a bigger obstacle question to success a lack of time or a lack of capital?
One of the questions had to do with the frequently asked “social media roi” question. How do you measure the ROI of Social Media?
It’s tough for people to get their head around it because Social media takes a lot of effort, time, and human capital vs. something like Google Adwords Pay per click that can target people at the end of the buying funnel and you can see immediate results and a lot less time. For example, we have clients with PPC management with call tracking on Google and we can show them over 50, 100, 300 + calls a month they can listen to.
Social Media ROI is harder to measure because its a different game because unlike Google Adwords you have to engage, create great content, and sometimes takes longer than SEO/PPC advertising.
Gary compares social media vs. traditional advertising like TV commercials and Radio and how when he posts a t shirt idea he sees sales if you have the direct channel connect. Social Media ROI gets easier to track if you own the product or service so you can see the direct response from a link you put out there on social media.
We think people always ask about this question because it is a lot more time consuming for most companies or small business because they don’t have the time or patience to build an audience. What do you think about this topic? Leave comments below.