The Facebook ROI Mystery
This post combines several recent infographics one from my friend Bill Ross @LinchpinSEO and another from @JeffBullas to ask a simple yet complex question. Does Facebook make money.
I hate answering questions in the negative, but I can't see other way to answer this one. I called on a piece I wrote over a year ago - Social Media Marketing The Most Important ROI ( http://www.atlanticbt.com/blog/social-media-marketing-the-most-valuable-roi/) to answer in the negative.
What if you DON'T create ROI losing social media marketing? The answer to that question is PAIN and then more PAIN. Even if you've failed 100 times my advice is to fail 100 more times, and to reframe your #SMM discussion.
Ways to Reframe Your SMM ROI Thinking
- Don't require same ROI from Social as from everything else (go easier).
- Don't spend less than 10% of your marketing budget on social media.
- Be generous with conversion funnel attribution (very generous).
- Don't look for Stimulus - Response curves in social.
- Invest in social for our FUTURE even if you FAIL now.
- Failing just means you need to test more.
- Contests and Games, Games and Contests
Facebook and Social Media Marketing may be a mystery wrapped in an enigma, but stay the course. Keep at it even if it means failiing miserably 100 more times :).