The ROI of Social Media

The team over at Socialnomics have done it again.  They put together a great video outlining the ROI of Social Media.  There is so much great content here that you will want to watch the video immediately.  For those that are pressed for time I pulled out what I thought were the ten best stats and quotes. Without further ado, here is the video and below is my list of top 10 list.  And if you are looking for some other great stats on social media head over to our Industry Stats page on Socialware.com.  Also if you know of a stat or quote that we haven’t highlighted please comment on this post and we will add it to the site.

1. Wetpaint/Altimeter Study found the company sales with the highest levels of social media activity grew on average by +18%, while those companies with the least amount of social activity saw their sales decline -6%.

2. Lenovo saw a 20% reduction in call center activity as customers go to community website for answers.

3. Dell sold $3,000,000 worth of computers on Twitter

4. Only 18% of traditional TV campaigns generate a positive return on investment – what a waste.

5. “You can’t just say it. You have to get the people to say it to each other,” says James Farley, CMO Ford.

6. Genius.com reports that 24% of its social media leads convert to sales opportunities – that is a great return!

7. Co-Chairman Alex Bogusky of Crispin Porter & Bogusky nail it: “You can’t buy attention anymore. Having a huge budget doesn’t mean anything in social media…The old media paradigm was PAY to play. Now you get back what you authentically put in. You’ve got to be willing to PLAY to play.”

8. 71% of companies plan to increase investments in social media by an average of 40% because it is a low cost marketing channel, it is getting traction and my favorite “we have to do it”

9. “Think of Twitter as the canary in the coal mine.” – Morgan Johnston, JetBlue

10. “Our head of Social Media is the customer” – McDonald’s

And please don’t forget to share your favorite social media stats below.