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Your Philosophical Approach to Social is Killing Me: It’s Time to Get Results

Your Philosophical Approach to Social is Killing Me: It’s Time to Get Results | marketing tips | Scoop.it
Jason Miller of Marketo is tired of the philosophical marketers who look at social ROI as a myth. Here are his blunt words on automation and results.
mcgrawmarketing's insight:

I've been involved in a couple of discussions over the past few days about social media ROI - and my position has always been that measuring the ROI is simple as long as you know what it is you want to capture, analyze and report on right from the start.

 

The problem is that too many marketers fail to take this approach with social media.  Then, when they get pinned to the wall from the C-suite, they start pulling out metrics that don't answer the simple question which is "How much revenue did all that social media produce?"

 

Dell has been doing it for years.  Their Twitter stratgy has included special offers with codes so the impact of the campaign could be measured (check out this from 2009 - http://mashable.com/2009/12/08/dell-twitter-sales/)

 

So if you're looking at your social media investment and wondering "Why?", step back and ask yourself "What do we need to see in order to determine if social media is helping us achieve our goals?"  Then set up a test to see if social media can deliver.

 

But so far, too many businesses have assumed social media can help achieve its goals and then failed to set up the processes necessary to prove (or disprove) that theory.

 

Oh, and for those of you that are thinking "Social media doesn't have to be about sales...it could be about service or brand", then set up a measurable objective for service or brand.  Does social media reduce the number of calls to your call center?  If so, what's the impact in terms of metrics that are key to the business - for example, did it reduce costs in terms of labor?  

 

And if you use social media to build brand awareness and impact perception, set up a baseline study that shows where your audience rates you in terms of aided and unaided awareness then do another a few months later to see how social media impacted those metrics.

 

What do you think?  Is social media so special, so unique that measuring ROI is impossible?  Or have marketers been doing a rather lackluster job of proving the value of the investment?

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Small Business Growth Tips to Overcome a Slow Economy - Dawud Miracle

Small Business Growth Tips to Overcome a Slow Economy - Dawud Miracle | marketing tips | Scoop.it

Note from Pat: Great post - takes a very real conversation (sale are down, marketing is expensive so I am cutting marketing) and  raises some important questions for the business owner to consider.  Bottom line is marketing works - but what works today might not work tomorrow so you need to test, measure, analyze, modify and repeat.  And you might find out that your product line needs modification - and your pricing strategy needs to change too.  That doesn't mean marketing sucks so cut it...it means marketing works but things change.

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