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New ROI

Use social media to track how customers benefit

By Rick Gilman, APR, CMP | Updated on July 28, 2012
Traditional marketing training,  public relations and communications philosophy have proven that part of any effective business strategy is to circle back around and evaluate its success.

It’s a continuous improvement process and part of the evaluation phase is an assessment of the program’s return on investment. ROI is often considered in the financial realm in reference to the profit or loss of an investment and whether the result is worth the cost. In other areas, businesses often speak of ROI as a system or technology. They evaluate the time and cost it takes to implement ROI versus how long it will take to recoup those expenses and begin seeing net benefits.

What’s old is new again

For years, creative thinkers and leaders said that in order to get ahead, we needed to think outside of box. In 1996, when I first began working at ACORD, the annual conference theme was “outside of the box” thinking, at the time a cutting edge concept. It dealt with asking people to change perspective and not be confined by artificial boundaries.

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