The rise of social media in the last couple of years has been fun and definitely interesting. Millions of people and companies have embraced the various services, even though many had no idea of how they would be used or why. But it didn’t matter because social media was so new that everyone wanted to experiment and dabble.

But like any wild party that comes to an end, people eventually have to sober up and take stock of what’s happened. And the same holds true for social media. After the enthusiasm and experimentation, there is a growing sense that many companies are looking at their social media efforts in a new and demanding way.

It’s not enough any more to be doing social media. The focus is shifting to the benefits of social media and what it’s generating for the business – be it Web site traffic, leads, sales or better customer service. It was not that long ago that being on social media was enough of a competitive difference. But this is no longer the case.

Now, companies want tangible evidence social media is contributing to overall operations. Like any corporate activity, social media must earn and keep its place. It is a matter of recognizing whatever resources and money being allocated to social media is not going something else. As a result, the ROI of social media is becoming a growing consideration to measure and justify how money and resources are being spent.

This is actually a positive development because it will make social media more than just a digital novelty that is being done because everyone else is doing it. Taking a more pragmatic approach to social media hopefully means companies will be more focused on making sure their strategic and tactical efforts are implemented properly.

In many respects, it means embracing what I describe as “social relevance”, which involves harnessing social media to make a business operate better or gain a competitive edge. It means focusing on a company’s strategic and tactical goals for social media, and then adding other elements such as the different services, influencer outreach, monitoring, and tactics on top of it. (See the graph below).

A more serious focus doesn’t mean social media will be less fun or exciting but it does suggest companies could be more discerning in how they use social media and the potential benefits before jumping into the fray. There will be plenty of opportunities for social media to evolve and resonate but the corporate landscape is changing….and that is a good thing.