SMO - Strategy - Performance - Introduction
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It takes time to make the most of social media - The Globe and Mail
The other was to make sure it wasn’t being mixed up with its predecessor, a pizza joint that had served cheap beer to customers who included what one patron on Chowhound.com described as a “sketchy crowd.” It didn’t help that the former outlet had been called Dave’s Gourmet Pizza, which caused some people to think it was the same operation, and not a new business. How to get the word out? Social media was a good start, and the new Dave’s has created a Facebook page and a Twitter account . But creating a page and an account without doing much more is not going to do the trick – and, like many small businesses, Dave’s proprietor, Liz Guerrier, was stumped about how to make the most of social media efforts. For Dave’s, like many small businesses, social networking has not been much of a priority.
Social Media ROI: ROI Doesn’t Stand for Return on Ignorance Brian Solis
My good friend Olivier Blanchard recently released his new book, Social Media ROI , Managing and Measuring Social Media Efforts in Your Organization . As he was nearing its completion, he asked if I would write the foreword and to be honest, I was flattered. I agreed to do so under one condition, that I get the opportunity to share the foreword with you here. Long story short, here we are.
6 Social Media Measurement Questions You've Been Asking
Many shy away from discussions on the ROI of social media. It seems like we all have plenty of anecdotal evidence that social media drives business results, but where are the numbers? In yesterday’s Social Media Measurement webinar , we addressed the numbers as well as a range of questions submitted by our audience. In this blog post we highlighted the top six questions for those of you who won’t have time to watch the entire on-demand webinar :5 steps ensuring social media serves your business | memeburn
Social media is a vital part of any online marketing campaign. It is an important fact that marketers need to understand. However, getting to a point where your business has successful integrated this reality may prove a little tricky. It may seem that there is one objective – marketing.
Can social media be quantified?
There was quite a conversation on the LinkedIn board on my post “Facebook advertising case study: But what did it do for sales ?”. The bottom line in my article is that soft metrics like impressions and engagement mean very little if they didn’t directly contribute to the business objectives of increasing sales, lowering costs or increasing customer satisfaction. Integrated marketing is the key to a successful marketing program but the question arises; “how do we measure each component within an integrated marketing initiative so that we optimize our channel mix?”
A majority of US marketing professionals claim social media is now “invaluable” to their business, according to April 2010 research from online marketing firm R2integrated . While relatively few marketers reported social was pointless and overhyped or too complicated to deal with, most are still not increasing revenues or otherwise profiting from their social efforts. Although one-half of respondents said they had a social strategy in place—considered critical for success in the social space —only 35% thought they were making money. Strategy does help, though.
Will Social Strategizing Bring ROI?
What is the ROI ( define ) for social media? It's zero. That's because there's no such thing as "social media." People's conversations are not media; they can't be purchased as such by advertisers.
The ROI for Social Media Is Zero
My Thoughts on Social Media ROI
Lately I have been getting pulled into conversations with clients about how to measure their social media efforts. There are lots of differing opinions about WHAT to measure, what realistically CAN be measured and how to figure out whether the time and effort of implementing a social media strategy is worth it. As you might expect, I have some very clear ideas about all three topics. The aim of this post is to try and shed a little light for other professionals confronting this issue as well as for clients considering extending their digital influence through social media.Almost on a daily basis I am asked by someone, “What should I post or tweet about?” My answer is always simple: what are your goals? No matter what Social Media Platform you are participating in, your overall online marketing plan synchronized with your goals will determine your online strategy.
What Are Your Social Media Goals?
There has been a lot of discussion about social media ROI lately - everyone is pushing very hard to figure out how it can be used to make money or reduce costs. Fundamentally we need to start any investment initiative with the goal of making more or spending less so the ROI conversation is very important. However, as an analyst I often had to chuckle because we hear very little from the companies making a lot of money (with high margins) off of social media and online communitities - companies like The Knot , Match.com , and UTest . Why? Those who have figured out the puzzle have no particular need to share their secrets and in most of the examples I know of they are market disruptors, not established brands.
Social Media ROI - Seeing the Forest for the Trees
Social media ROI has been a hot topic of late and will be a primary focus of many marketers in 2011. Whether that leads to marketers determining satisfactory methods of calculating social media ROI is still unknown, but they sure will be trying. This is evident in a recent report by the Altimeter Group, which shows that developing ROI measurements is the primary focus of 48 percent of social strategists. This is also backed up by a recent eMarketer report that shows the increased focus on ROI metrics.
The Social Media ROI Conundrum
Social Media Is Not A New Conversation
Social media has changed the way that we market our brand as it is that constant billboard of brand message as well as consumer reaction. The shift from the one to one communication in traditional advertising has evolved from a consumer-to-consumer conversation into a brand-to-consumer conversation. It is not a new conversation but a new means of conversation. Some brands are adopting and embracing whereas others are shaking in their boots trying to figure out why they would expose themselves in such a way. Social media marketing is not creating conversations, it is enhances the way that we have them. We have always talked about brands, just not as openly with the brand as we do now.Do Social Media ‘Conversations’ Sell Anything ?
I was reading a blog post the other day and this comment captured my attention: “Content is NOT king. It is the conversation around that content that is king.” I recently wrote about how many of these conversations we THINK are occurring on the social web that are not occurring at all. A blog comment is not a conversation. A tweet or a status update is not a conversation. Pushing a “like” button is not a conversation.If you're spending money on anything these days, you need to know what you're getting out of it. That includes your company's involvement in social media. If you can't see it, you can't track it, so you might as well turn it off.