There has been speculation for months about how a business might calculate the value of social media. Businesses large and small are using facebook, twitter, linked in, and lots of other social media outlets to promote their products and keep in touch with their customers.
Ford Motor Co. has perhaps crawled further out on the social media limb than any other company, at least in terms of investing hard assets in this marketing channel.
In order to introduce their newest car, the Focus, Ford ignored the usual television and print outlets, and, instead, provided new Focus’ to 100 of the most influential bloggers in the country. Each blogger got to use the car for 6 months. All these social media market makers were required to do was make a video about the Focus once a month and upload it to YouTube and be willing to discuss the car-no holds barred-in their other social media postings.
Today a search of YouTube for the term “Ford Focus” returns 17,200 hits. If a reasonable percentage of those reflect favorably on Ford, then they got their money’s worth.