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This is a guest post by Samir Balwani, the founder of Training Social, a resource for those interested in social media training. Techipedia readers can use code Tamar for a 15% limited time discount when registering.

One of the most common questions in social media is – “is it worth it?”. Because of the nature of the marketing tool, each industry differs to the point that people just aren’t sure.

Many would use a blanket statement that it’s useful. They’re being disingenuous. Every industry can benefit from social media. No matter what, there is some way you can use it it. However, the question remains to be answered – is it worth it?

When it comes to profitability, increased revenue, and efficient use of time – the question of “is it worth it”, takes on a life of it’s own. There are two things we must understand before we can define if social media adds value to your business.

1: Opportunity Cost – Every time you spend a minute on social media is one minute you potentially lost revenue. This inherent cost needs to be included in any equations you make when allocating resources.