The ROI of blogging
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Charlene Li and Chloe Stromberg.of Forrester Research published a report on “The ROI of Blogging "Why" And "How" Of External Blogging Accountability
In a three-step process, marketers can create a concrete picture of the key benefits, costs, and risks that blogging presents and understand how they are likely to impact business goals. This, in turn, enables marketers to answer the key questions, such as whether to blog or not to blog, or to make smart choices about an existing blog.
Forrester analysts further calculated ROI of General Motors famous external blog FastLane blog which they say delivered an estimated $410,470 worth of customer insight and marketing at an approximate cost of $255,675 — a return on investment of 67% — according to a newly released report from Forrester Research. In 2005 GM’s blog generated an estimated $578,374 worth of information and publicity at an approximate cost of $291,196 at a 99 % ROI
The fall in ROI is mainly because of diminishing novelty and press interest according to the report
In a interview with computerworld.com Charlene states There are three major elements that drive the ROI of blogging. The first is benefits. The second is cost. The third, which is often overlooked, is managing the risks. The hard thing is measuring the benefits. companies haven’t dug into [cost-justifying blogging] because the initial investment was so small, maybe a couple hundred thousand dollars, which pales in comparison to multimillion dollar CRM investments
More info:
http://blogs.forrester.com/charleneli/
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