This is an interesting term I just discovered today. In a recent PR Newswire article, Tom Pisello, Chairman of the company Alinean, defines it in this way: "In today's 'age of austerity' every significant investment requires proof of bottom-line impact – a condition called Frugalnomics." According to Mr. Pisello, this is why "a focus on austerity via business and IT cost savings, remains strong."
This need for measuring results in an 'age of austerity' has pushed Alinean, creator of sales and marketing tools for B2B clients, to develop a social media ROI claculator which will allow businesses to measure the impact of their social media strategies.
In a world where social media investment is expected to move from its current 6% of marketing budgets level to 18% over the next five years, these kinds of tools are being developed to meet the frugalnomics age. I think we will see lots of these tools coming in the future.
No comments:
Post a Comment