Social Media and ROI: The Addiction to Perpetual Failure -Ad Geek Daily. By Laila Rehman David Rogers, digital marketing expert and author of “The Network is Your Customer” notes in his book how CEO’s bring up the social and digital discussion with “What are we doing on Facebook/Twitter/YouTube/Pinterest?” And are eager to enter these platform to work on “vanity metrics” such as likes, customer engagement and reach – all of which are counted by marketers (especially in Pakistan) as ROI.
But, as he clearly pointed out, the concept of ROI is a purely financial metric and should always be seen that way. Simply getting likes means nothing. Nokia has the most likes in Pakistan and is rapidly losing its grip, foothold and brand preference in Pakistan. This also applies to the strategy taken to earn the attention of the Chief Justice for the recent teen killing in Pakistan.
“Insanity: doing the same thing over and over again and expecting different results.” – Albert Einstein About the author: Laila Rehman is an associate with SilkSKIN in the corporate sales team. How to trace your website traffic with use of google analytics. Social Media ROI for Idiots. Some companies are still have trouble understanding the return on investment of a well-run social media campaign.
In an effort to take into account short attention spans and a general lack of interest in changing hard and fast attitudes we've put together a quick, and easy, piece here to show how social media not only gives a great return on investment, it now surpasses most traditional media. Traditional ROI is calculated: ROI = (revenue - investment) / Investment * 100. Or: ROI = (∆ revenue - investment) / Investment * 100.
Where, for those of you who have forgotten grade 9 math, ∆ revenue means "change in revenue". Ok, so that's how companies have traditionally determined if the cash they're shelling out for an ad campaign is worth the effort. The 2nd formula is a bit smarter because it's easier to quantify the campaign's success if you know what your sales were before you began. Now that we've got that sorted we can move on to social media. Or this one... how about this one... Connect: Measurement. Framework: The Social Media ROI Pyramid. Often, our industry can appear complicated, and yearns for simplicity.
One such technique to glean simplicity is to develop frameworks which the corporate social strategist can then apply to achieve their business goals. I’ve been working on this “ROI Pyramid” framework for a few months now, and am ready to share in greater detail than on my keynote at LeWeb (slides and video) where I introduced this to the public for the first time. [The novice provide executives with engagement data --causing themselves to be stuck in the churn of obtaining more followers and fans --without a clear business goal] 140 social strategists around the globe at enterprise class size companies indicated their top internal objectives for 2011 is to “Create ROI Measurements” Experimental mediums require proof they work. [The seasoned professional provides executives with business metrics first. Excess variety of data options, and disparate platforms. Matrix: Understand the Social Media ROI Pyramid.
Small Business Social Media Marketing - 3 Success Stories. One of the most common questions small business marketers are seeking to answer is, “How can I really benefit from social media?” Social media has certainly changed and improved how small to mid-size businesses can carve out space and connect in an extremely crowded marketplace. When companies participate on the social web in a meaningful way, it helps create a personal connection between customers and the brand.
One of the greatest benefits specifically for small businesses is that access to potential customers has increased tremendously. Rather than strictly focusing on paid advertising, word-of-mouth referrals, and in-store promotions (or a wacky mascot standing outside) businesses can now directly find customers that may be interested in their products based on profiles, active discussions, keywords or expressed interests. This is especially key in the early stages of a business life-cycle when cash is at a premium. 8 Keys to Blogging Success. Are you considering starting a blog? Maybe your blog isn’t working for you? Blogging is one of the hottest ways to build business online. It’s changed considerably from the early days of “dear diary” and “angry conspiracy theorist” blogs. Even Time Magazine has started honoring their “Best Blogs” of the year. Here are eight questions to ask–keys if you will to blogging success. #1: Are You Passionate? In The New Rules of Marketing & PR, David Meerman Scott urges would-be bloggers to “be passionate about and want the world to know about” their subject.
Even if your business is extremely traditional, readers expect some degree of humanity. . #2: Are You Patient? The saying “If you build it… they will come” only worked for the Field of Dreams movie. "If you build it... they will come" doesn't work for blogs! #3: Are You Clear? What’s wrong with this? Did that mean anything to you? Some things are better left unsaid. #4: Are You Brave?
Blogging isn't for chickens! #5: Are You Seasoned? How to Calculate the ROI from Social Media Marketing. How to identify Goals and KPIs for your website in Google Analytics | Online Marketing Blog | Digital Marketing Blog. This post focusses on why, what and how to set up goals and KPIs (Key Performance Indicators) in Google Analytics. When delving into the world of web analytics it can become overwhelming, very quickly. You have a lot of questions, you’re expecting answers to those questions, and you’re expecting it to solve all your problems.
But instead you find a plethora of metrics and reports and it’s difficult to know where to start. But where you start is really quite simple. So you’ve decided what your goals/KPIs are and decided how these can best be aligned to your analytics package. The next post in the series is about taking that next step; setting up goals and funnels to derive insight. Making Data Relevant: The New Metrics for Social Marketing. Prashant Suryakumar is a Social Media Engagement Manager at Mu Sigma and is currently focused on social media analytics. This post was co-authored by Dhiraj Rajaram, the founder and CEO of Mu Sigma. Social media has come of age. Marketers now have the ability to augment their traditional marketing approaches with rich behavioral and activity-based targeting that should increase marketing ROI significantly. However, businesses are facing an uncomfortable truth: There are no “best practices” for measuring a successful social media campaign.
Crowd behavior is dynamic and context-specific, and it is difficult, if not impossible, to build a “one size fits all” solution. A structured approach to capturing, measuring, analyzing and refining marketing strategies in near real time is essential to executing a successful social campaign. Initially, however, companies need to invest in infrastructure to make such a learning cycle possible. Invest in Data Real-Time Monitoring Sentiment Analysis Conclusion. Maximizing Social Media Marketing ROI | Terametric - Terametric Friday: Top Stories in Social Media ROI » Terametric Blog. Maximizing Social Media Marketing ROI | Terametric - The Two Biggest Pains of Social Media » Terametric Blog. Maximizing Social Media Marketing ROI | Terametric - Terametric Friday: Top Stories in Social Media ROI » Terametric Blog.
Maximizing Social Media Marketing ROI | Terametric - Terametric Friday: Top Stories in Social Media ROI » Terametric Blog. Google Webmaster Tools Expose Analytics Lies « beu blog. Over the holidays, Google rolled out a pretty major update to Webmaster Tools. This latest update provides much more detail in terms of data and reporting. So much in fact, that some folks seem confused now about the difference between Google Webmaster Tools and Google Analytics. The big difference for SEO is that Google Webmaster Tools shows Google's own data for URLs in Google SERPs and doesn't track web pages like Google Analytics. In addition to the key difference in reporting, Google Webmaster Tools requires no installation. While it's difficult to say for sure, this update should force folks to abandon the ignorance is bliss mentality when it comes to analytics reporting once and for all. BUT before diving in, here is a little background... In 2005, with a little help from a Googler named Vanessa Fox, Google launched Google Sitemaps.
Ranking reports are created with software that emulates users and sends automated queries to search engines. Final thoughts... Oh yeah, HAPPY NEW YEAR! Framework: The Social Media ROI Pyramid. ROI vs. KPI — Why Social Media Can’t Show You the Money. When the boss assigned me a blog on the ROI of social media, I accepted the task with a certain amount of hubris. Confident in my favorite data-full online tools and toys, it seemed obvious that a simple-sounding metric like return on investment would be, not only calculable for social media, but more easily tracked and updated than it has been before. Technology, apparently, is no cure for being dead wrong.
Having read, crowdsourced, debated, and scoured, I am now convinced that, despite what you may read in Google search results, there is no meaningful way to track ROI for social platforms, unless you are lucky enough to be in straightforward e-commerce, using trackable coupon codes, landing pages, etc–and even those efforts may only quantify a fraction of your results. But they’re as important, too. Must haves? Positively detrimental? As often happens, the best practical brain byte on this whole topic was a tidbit from Wikipedia (how’s that for social value?)
The common threads? The Klout Myth and Living Above The Influence. 13EmailShare If you spend any amount of time on twitter, you’re probably already familiar with Klout, a service which claims to measure your overall online influence. Much has already been written on the pros and cons of Klout (you can find several excellent observations here). To many, however, there is a big difference between real influence and online influence. When I see unemployed, 20-something year-old social media enthusiasts with Klout scores in the 70s, it makes me ask myself: “Who are they really influencing?”. Besides, what exactly does having a high Klout score really mean when Lady Gaga’s score is 90 and Bill Gates’ is “only” 77? But surprisingly, there is quite an obsession with Klout on social media platforms. I believe for many, Klout is the main reason they “engage” on twitter. A FRESH PERSPECTIVE So, allow me to introduce five considerably more important “Influence Metrics” to monitor in 2011: What’s your Klout score with your spouse?
Kenny Rose: Klout Influence Summary. Data analytics | New England Patriots Tackle Multichannel Data. Your Followers Are No Measure of Your Influence - Advertising Age - Special Report: Influencers 2010. Your Web Analytics Checklist. Neil Mason | December 21, 2010 | 10 Comments inShare28 How well is your Web analytics system configured and how good is your data quality? A seven-point checklist. In the course of our work, we see many implementations of many different Web analytics systems. Although most companies now have an analytics system, or are on their third or fourth system, the poor quality of the data that is still being reported is surprising.
If you're only using the system to report very top line numbers, then it's easier not to worry too much about quality, as the data is hidden from view. Here's a quick checklist to understand how well your Web analytics system has been configured and how good your data quality is. Page Tagging Is the site being tracked properly? IP Address Exclusion Have you determined which IP addresses you need to exclude or filter out from the data?
Page Naming Good page naming is the bedrock of easier content analysis and user path analysis. Content Grouping Conversion Events.