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Posts Tagged ‘ROI’

How Do You Measure Social Media Success?

Friday, July 23rd, 2010

As with all marketing mediums, there’s a lot of dialogue and discussion on how to measure the success of a campaign or marketing initiative.  Within the social media space marketers, companies and brands have been trying to figure out the holy grail of social media measurement.  For many, they try to say that the logical metric is the number of fans or followers that a brand or company accumulates across platforms such as Facebook and Twitter.  We beg to differ.

At the end of the day, any campaign, whether it be in the social or traditional marketing space lives, breathes and dies based on how well it ultimately moves the sales meter.  While from an analytic standpoint, it’s nice to have cost per impressions and reach costs, we also need to understand that today’s consumer has “constant partial attention”.  So, while you may be reaching them with impressions, or having them click on a like button or a follow button - are you really reaching through the clutter of marketing messages and noise that are competing for that consumer’s attention?

In reality, many consumers will click a like button or a follow button because a friend of a friend of a friend of the marketer reached the consumer and told them to click.  They’ll click and never look back.  So, at the end of the day, you’ve got a false population of fans/likes/followers who could care less about the messages they’re being blasted via Twitter, Facebook and the other platforms in which the brand is trying to engage their attention.

From our standpoint, the real measurement of both traditional and social media marketing success is multi-layered and lies between the actual engagement of those consumers — are they becoming evangelists?, are they engaging with your brand or company?, are you having viable dialogues that bring value to the consumer (and to the brand)?, and - most importantly - is there a positive impact to your brand or company’s bottom line???

How are you measuring your current campaign success?  We’d love to hear your thoughts…

Taking the Road Less Traveled in Social Media, And Why It Makes All the Difference

Friday, January 15th, 2010

A big question for those interested in social media marketing today is effectiveness. What drives customers and businesses to my site? How do I engage my customer base to create a two-way dialogue that promotes positive interaction?

A recent survey conducted by MarketingProfs in September 2009 of business-to-business (B2B) and business-to-consumer (B2C) marketers found that the marketing tactics most often used on social media sites aren’t necessarily the best.

Simply friending customers and attempting to drive traffic to corporate websites with status updates on Facebook, ranked among the most common tactics. But brands cannot expect to gain traction with these simplistic one-way communications.

Looking at MarketingProf’s survey of B2B and B2C marketers, the most effective tactic for consumer-oriented companies was creating a Facebook application. However, less than 25 percent of the total number of those surveyed used this approach. A close second for both B2C and B2B marketers were fan surveys, although ranked as the third most-common tactic attempted.

Coming in dead-last as effective were Facebook ads. Even targeted ads, using Facebook’s improved ad targeting package came up short.

Not a surprise really when you recognize that social media users, especially those savvy to traditional communication techniques, expect companies to provide value, interactivity and ultimately open up a human dialogue.

Twitter is another application where the goals don’t match the approach most marketers’ take.

Because of Twitter’s features, brevity and fairly recent entrance into the web its user base is different from Facebook’s and so is its utility to marketers. Those who used Twitter as a tool for monitoring and person-to-person communication, instead of as a sales channel, reported 40 percent or higher success rates.

Buzzphoria knows that success in social media means going that extra mile down the road less traveled to interact with customers and clients in a dynamic way. One-way traditional communications aren’t how real people talk to one another and it shouldn’t be how companies going forward address their consumers.

Has your company embraced social media’s human communication?