Yes - Hotels Can Learn a Thing or Two about ROInteraction from TV

By Tom Costello

I'm not the only one that has been harping about how hotels should up their ante with social media but if TV networks can effectively incorporate it into their marketing strategy then hotels can't be too far behind can they? I don't see any hands.

Here is how some of the networks have recently used social media with some degree of success.

FOX News used Twitter to measure viewer reaction to its GOP debates and encourages online interaction based on the candidates' answers and VH1 provided a four-hour live stream of analysis for its Critics Choice Movie Awards broadcast. Now that's torture.

Integrating social media from viewers following along with computers and smartphones fosters greater engagement while also broadening the audience for programming. Best of all, it provides consumer data.

With that, networks can better target advertisers.

The question now is not whether networks should utilize social media but how they can use it most effectively and monetize it.

Let's take a minute to revisit the idea of monetization and look at ROInteraction as compared to ROInvestment.

Return on Interaction is the new Return On Investment. The difference is simple IF you can get the GM to agree about the value of the return. With ROInvestment you put money in to get more money in return. With ROInteraction you put in interaction to get back more interaction which returns tenfold in trust, loyalty, and the development of advocates and influencers for your hotel. What's most important for now is showing that your social media campaign is an integral and effective part of your overall marketing strategy.

Here's what the networks are saying about the same subject and see if there is any commonality.

Twitter reaction to the 2009 U.S. Airways crash into New York's Hudson River is one of the first times the social media service influenced NBC News coverage. The network news team quickly determined the story was legitimate and got a jump on what became a major story.

Fox has used Twitter to measure popular sentiment on issues and candidates, with the metrics finding their way onto Fox's website and into its on-screen post-debate analysis.

Other networks, like Bravo and VH1, have encouraged stars to tweet during their shows, hoping to build buzz at key moments. Still more have show-specific hash tags that can become trending topics and convince those not viewing to tune in.

Of course, the ultimate quest is monetizing all this interaction. Networks increasingly include not just Nielsen ratings but Twitter mentions, second screen streaming and other supplemental numbers when pitching to advertisers.

So what are your ideas on the subject and how hotels can better utilize social media for a greater ROInteraction?