I recently had the pleasure of hearing Randa Zalman of Redstone speak at a conference. What she had to say about social media made a lot of sense. Amidst all the talk of "monetizing" the medium, she said users should focus on "ROR - Return on Relationship" instead of ROI.
Oh - and you probably shouldn't can your direct mail plan or emails in favor of all social media all the time either ...
According to Redstone and Randa:
A return on your social media investment isn't as simple as "if you build it they will come." Social media can be very effective, but typically only when it is part of a mix of integrated and complementary marketing efforts. A one-legged stool is often just a good way to get drilled into the ground.