Since we launched our BlogTips Facebook application twelve days ago, several trackable conference registrations have been the direct result. I calculate a 43.75% net ROI in approximately 1/30 of a year. If you multiply that out, that’s an annualized 1,300% rate of return on the investment. Not too shabby.
By some metrics, it’s the single most effective marketing campaign I’ve ever been involved in — especially when we’ve only launched a 1.0 widget with limited functionality. Admittedly, we haven’t scaled to a volume where it’s a main driver of revenue (yet,) but it’s clear to us that this is an arena that shows great promise. It’s also a heck of a lot easier than fighting over AdWords terms.
Since this has been such a successful first foray into Facebook development, we’ll be throwing some more time at improving the application over the next few weeks. In the 2.0 version of BlogTips, you can expect to see:
- A list of previous tips and the people who submitted them.
- A place to submit tips that’s not on people’s profiles, to reduce the app’s real-estate hogness.
In a related vein, we’re adding a new item to our menu of consulting services — the conception and creation of FaceBook widgets for clients. Let Kim know if we can build one for you.
Many thanks to everyone who has added the application and submitted tips thus far. We’ve had some really great ones!
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Marty Collins 07.23.07 at 5:21 pm
Great job here! I think there isn’t near enough discussion on ROI for these types of viral marketing efforts. Good job to you guys for trying it and reporting back on successes.
facebook application 07.31.07 at 7:00 pm
Nice return on your investment. Have you thought about using facebook in different ways to achieve your marketing objectives?
tonyrocks 02.11.09 at 12:45 pm
It is nice to see numbers backing this stuff up. So many companies are afraid to jump in the social networking mix because they can’t seem to quantify/qualify an ROI. Nice work