In deciding whether to engage in social media platforms, many businesses and other organizations ask about the return on investment, or ROI, for social media. Last week I had an impromptu opportunity to interview Barbara Porter, Assistant Dean for Academic and Student Affairs, Mayo Medical School, after she mentioned some of the concrete savings (time and money) in the orientation program for incoming students that have been achieved because of Facebook:
Because the students have organized themselves into activities such as a camping trip the week before they report for classes and have otherwise gotten to know each other, Barbara estimates the financial savings because of the reduced need for formal team-building activities at more than $20,000 per year. With that important cohesion created among the students, the orientation team can accelerate the pace of other learning, saving time and making the orientation more effective.
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