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EXECUTIVES EAGER TO avoid getting involved in the whole social media thing frequently cite lack of clear return on investment as a shortcoming. It's time to put that misperception to bed.
The Internet is the most measurable medium ever invented, and anything that can be measured can be used to calculate ROI. The first thing you need to know is the value of a customer. If you don't know that, getyourCFO to figure it out. It takes about two hours. Then you need solid customer relationship management practices and decent Web analytics. Here's how it works.
Let's say a typical customer spends $ 1 0,000 with you annually and stays for five years. If your profit...