I attended a conference today. At one session, an agency presented Web 2.0 concepts, then talked about "Return On Interaction", or something like that, saying you don't need to monetize this activity. Then a co-worker got up, and said that you do have to figure out how to monetize this stuff, because businesses are in business to sell stuff, not just to have a conversation.
Ah yes here we go again. Business doesn't want to jump into social media and 'have a conversation' until it can figure out how to monetize that conversation.
You don't have to; The conversation monetizes itself.
Communication=understanding=more effective/efficient marketing=lower marketing costs.
The conversation monetizes itself.
UPDATE: David adds his take on 'The Magic Formula'.
Tags:The Viral Garden, Marketing, Social Media