Implementation Costs

Description

Costs in relation to implementing new social media capabilities.

Covered in Topic(s)

Social Media setup: Blog/Micro-blog

Clarifying the internal context is the key to establishing business cases for social media investments. For example, if business leaders set goals for increasing market share, they should evaluate proposed social media investments on such criteria as their ability to create new leads, increase lead quality, or increase customer retention. The revenue benefits from more leads, higher-quality leads or increased customer retention could form one-half of the social media business case. Of course, the other half is the investment required to generate those benefits, including the implementation and operational costs of new social media capabilities.