I’ve already written about social media ROI before, but this socionomics video further shows the economics of social media. As a recent HubSpot report showed, inbound marketing has a 60% lower cost per lead than traditional, outbound marketing. Companies that have a higher level of social media have higher sales. Gary Vaynerchuk was able to use the Internet and the power of video blogging to turn his father’s Shoppers Discount Liquors to the powerhouse that Wine Library is today.
Just a few stats from the video about how the Internet and digital marketing helps businesses save costs: