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Return On Network Opportunity

roiMost people know Christopher S. Penn as one of the founders of the popular unconference, PodCamp.  He and Chris Brogan started a revolution by designing a conference where everyone was a could be a rock star.

I had the chance to hear Christopher present his Social Media ROI 101 deck at the Inbound Marketing Summit.  It’s packed with great ideas and solid information on looking at profitability and the conversion funnel, and a few useful resources and simple formulas.  The slides are embedded a little lower down for your to check out.

At the very end of the last day at IMS09, I happened to bump into Chris.  He was cool enough to let me interview him on his presentation.  If you’re using social media in your business, pay attention.  He lays it all out.

It seems so simple when he explains it, right?  I think one of the most unusual things has happened in the last 18 months.  For some reason, people seem to think that because of social media, the definition of ROI has changed.

As Christopher points out, it’s still all about cash going in and out of the black box.

Any thoughts or comments?  How are you justifying the amount of time and effort you put into things like PodCasts and blogs?  What about LinkedIn or Facebook or Twitter?

Is it worth it?  How do you know?

PS.  Almost forgot the slides… ;)

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My friend Perry Maughmer is is a LinkedIn networking guru. His ideas on using the crowd sourcing functionality that LinkedIn delivers are out of this world.   Those of you who attended the Business First Social Media Summer Camp series saw this clip in my presentation.  If that’s you, please feel free to watch it again and share it around. Perry’s approach to building a personal network of subject matter experts through crowd sourcing on social networks has allowed him connect with some high level relationships, leading to return on network opportunity.

My opinion? This is a genius strategy. Watch and learn…

(Sorry about the audio quality, it has a bit of an echo.)

Perry Maughmer Idea’s on Crowd Sourcing to Build LinkedIn Connections | nateriggs.com from Nate Riggs on Vimeo.

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Social Media ROI: Bloomtastic.com uses LinkedIn to Increase Sales for Valentines Day 2009

by Nate RiggsApril 18, 2009

For the last five years, Heather and Jayson Waits have owned and operated Bloomtastic Florist in Columbus Ohio.  The couple sells their products at a retail location through special event services like weddings and funerals, and via their eCommerce site.  Jayson is also an avid network marketer who Blogs at his Go MLM Biz Blog.  [...]

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