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Measuring marketing spending used to be pretty easy, at least in theory: You'd run a big ad campaign and then see if your sales rose.
At Cisco, we often speak at different venues about how we set up and operationalized social media. We always receive so many questions on this topic that we decided to share our process and lessons learned with the larger social community in a more organized and methodical way. We have partnered with Frost and Sullivan to create a guidebook on “Operationalizing a B-to-B Social Media Center of Excellence”.
Large brands like the ones we work with typically include social media marketing as part of a much larger marketing mix, as they should. They frequently run TV ads, banner ads, PR programs, pay-per-click, print ads, out of home, event marketing and more. As budgets for social media marketing increase , one valid exercise in determining performance is to benchmark performance against other marketing activities in which you invest.
I am still hearing this deep and meaningful question at dinner parties, social moments and musings. “I don’t understand this Twitter thing, isn’t it just people telling their friends what they had for breakfast or did last night , what’s the point of that!”
The question of whether or not social media drives ROI still plagues many marketers and brands. The issue is not always as straightforward as it seems, as there are multiple ways to measure the benefits of social media and it isn’t as simple as looking for a direct sales return at one end, with the social media imput at the other.
Posted on October 19, 2010 by Rob Petersen
Situation: Microsoft was facing severe customer issues. Their partner base had ballooned to 180,000 and they were facing support and satisfaction issues.
The question on everyone’s minds: does more time spent on social media mean a greater social ROI?