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Rescooped by Kenneth Carnesi from Business in a Social Media World
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Social ROI = Return on Insanity

Social ROI = Return on Insanity | e-commerce social media | Scoop.it
There’s no way to put this delicately, so I’ll be blunt: quantifying the financial benefits of an enterprise social network is turning your company -- and the entire social technology industry -- into a three ring circus.   The ongoing demands of individual executives, archaic software evaluation processes and an obsessive focus on employees as productivity centers instead of human beings have turned collaboration into chaos, and social analytics into a spectator sport. As vendo Topic: Social Business.

Via Cendrine Marrouat - www.socialmediaslant.com
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Cendrine Marrouat - www.socialmediaslant.com's curator insight, May 14, 12:29 AM


They are starting to pop up on major blogs. These articles debunk the social media ROI myth with brio. The one I picked today is probably the best you will read in a long time.


One quote stands out from the rest: "If we stop selling tickets to the social ROI sideshow, nobody will come." No need to say more, IMHO


It's always been about people. It's time brands realized that. 

Rescooped by Kenneth Carnesi from Business in a Social Media World
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Why The ROI of Online Community Doesn't Matter

Why The ROI of Online Community Doesn't Matter | e-commerce social media | Scoop.it
The business case for community has already been made — defensible business, increased engagement, increased retention, and increased lifetime value.

Via Cendrine Marrouat - www.socialmediaslant.com
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Cendrine Marrouat - www.socialmediaslant.com's curator insight, April 8, 3:13 AM


Like Sarah Judd Welch, the author of this article, I believe in stopping asking about ROI. It's time we focused more on the most important part of the equation: people. 


"The funny thing is that these Fortune 100s think they’re building community for themselves, for their own bottom lines. But at the end of the day, communities own themselves."


Rescooped by Kenneth Carnesi from Business in a Social Media World
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What You Should Be Tallying On Your Social Media Scorecard

What You Should Be Tallying On Your Social Media Scorecard | e-commerce social media | Scoop.it
Ah, the simplicity of American baseball: three strikes is an out, and a team’s chance at the bat is comprised of three outs. In cricket, the math is a bit more extensive: an inning is considered complete once ten batters have been struck out, and matches can last several days. It’s no wonder that as far […]

Via Cendrine Marrouat - www.socialmediaslant.com
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Cendrine Marrouat - www.socialmediaslant.com's curator insight, March 13, 7:04 AM


The debate around ROI in social media has been going on in circles for a couple of years, and for a good reason. It proves that many brands still have a hard time making sense of social media as a channel where people matter more than promotion and dollar signs.


Ric Dragon goes beyond the easy answer in this short, but thought-provoking article. Like him, I believe in looking at “who needs the information and for what purpose.”

Rescooped by Kenneth Carnesi from Business in a Social Media World
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Transforming Social ROI From a Myth Into Reality

Transforming Social ROI From a Myth Into Reality | e-commerce social media | Scoop.it
Here’s a question I still get way too often: “What’s the ROI of social media?” It’s usually a B2B marketer that’s doing the asking, someone seemingly resigned to spending valuable time and resources on social media without really understanding why. Or it's a marketer that totally gets the value of investing in the company blog, Twitter profile and LinkedIn groups but still needs help convincing their “old-school” CMO or CFO that investing in socia Topic: Customer Experience.

Via Cendrine Marrouat - www.socialmediaslant.com
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Cendrine Marrouat - www.socialmediaslant.com's curator insight, April 9, 10:44 PM


I don't usually share articles on ROI, but this one hits the mark on many levels. 


I like how the author tries to shift the mindset from superficial numbers (likes) to clicks and downloads, for example. He also stresses the importance of focusing on the right social activities. 


The most important idea, though, is this one: "Almost without fail, when a lead is generated via social media someone on the sales team says they already have that prospect in their pipeline — never mind that it hasn't been touched in 18 months. Bottom line: social media often doesn’t get credit even when it works."


Overall, a very interesting article. 

Zack Fagan's curator insight, April 10, 8:35 AM

Well phrased article about social ROI

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Infographic: only 28% of brands are able to measure the ROI of content marketing

Infographic: only 28% of brands are able to measure the ROI of content marketing | e-commerce social media | Scoop.it

Almost two-thirds (63 per cent) of brands now have a dedicated content marketing budget, research from Bite has found, with 43 per cent of those surveyed saying content marketing was a board priority for their company.

 

It was discovered that 61 per cent of marketing leaders said they spent just half a day or less on content marketing related activities, with 71 per cent of brands producing social media content.

Video content was produced by 30 per cent, seen by 12 per cent as the most effective for their business. Infographics were produced by 23 per cent of companies, and were chosen by 10 per cent as the most effective for their business.

 

The research was carried out by Redshift Research, which surveyed 100 marketing decision makers, on behalf of communications, content and community agency Bite as part of its Stop Content Pollution campaign.


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Russ Merz, Ph.D.'s curator insight, March 18, 10:45 AM

The research was done on a small sample in the UK, but the results can be used in developing research questions and hypotheses for a larger and broader study.

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B2B Marketing Measurement Needs To Sharpen Its Business Acumen | Forrester Blogs | #TheMarketingAutomationAlert

B2B Marketing Measurement Needs To Sharpen Its Business Acumen | Forrester Blogs | #TheMarketingAutomationAlert | e-commerce social media | Scoop.it

Condensed...


In May, Forrester teamed up with the IT Services Marketing Association (ITSMA) and VisionEdge Marketing (VEM) to survey marketing leaders about how they demonstrate marketing's impact on the business.  About a week ago I (finally) published Forrester's take on this important survey (subscription required).

 

Key among the findings: marketing leadership continues to use metrics to report on performance and justify budgets.  But far fewer use data and analytics to analyze purchase patterns, fine tune the mix, and understand customer lifetime value - actions that can have a bigger impact on overall performance.  The bottomline here is that marketing's impact doesn't matter if CMOs fail to link what they do to business goals. 

 

To help CMOs shift their measurement perspective from outputs to outcomes and to put a sharper focus on business agility, I recommend four key actions to take:

 

1) Clarify which outcomes the business wants.

2) Go beyond ROMI to expose the full scope of marketing's influence.

3) Model and monitor customer lifetime value.

4) Measure existing customer value as well.


Via iNeoMarketing
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iNeoMarketing's curator insight, September 5, 2013 7:15 AM

Sometimes I get self-conscious that I'm making sophomoric statements regarding the CMO and the usage of data and technology to drive the function, i.e., am I stating the obvious here? Then I come across articles such as Laura Ramos' above post, and I don't know whether to be shocked that this is still occurring, or pleased that I'm making the right call.


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