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5 Social Media Tactics to Increase ROI via Mashable

5 Social Media Tactics to Increase ROI via Mashable | The Social Media Learning Lab | Scoop.it
Social can be one of the most challenging platforms for brands to measure return on investment. Companies that grew up on traditional advertising and metrics often have trouble making sense of the value of the online ecosystem. 


Excerpts:

2. Be Authentic

You can't fake it online, says Sid Shuman, who runs social media for Sony Playstation. "They can smell that a mile away."


Shuman suggests crowdsourcing content for in-house interview and articles. Because they live and breathe the brand, fans "come up with better questions that we could any day," he says.

3. Keep Content Premium

 
Hitting "publish" is social suicide if the material isn't quality. Take advantage of Wordpress,Tumblr and social media to craft strong messages.


Know the rules and follow them: Every network requires a specific approach and language (tweets are written differently thanFacebook posts). 


SEE ALSO: 8 Creative Ways to Connect With Customers on Facebook

Stick to a calendar for posting, and focus on making followers feel part of the brand's family. Using platforms solely as selling tools quickly alienates customers. Hire professionals—and fight the urge to turn sites into content farms or automate feeds.


Peter Yared, CBS Interactive's CTO/CIO suggests using your sites to curate and amplify positive content about your company. "Find the interesting content that’s being posted and use it to bring value to your audience."

5. Experiment

Nothing risked is nothing gained, especially when it comes to social. Fail and see what works. Test tone, style and new monetizing tools, such as native advertising, which serves sponsored content, tweets and Facebook stories. eMarketer reports 73% of U.S publishers now offer some form of native advertising. But be careful: This hot topic still often fails to hook users, as do most click-bait attempts.

 

Deb Nystrom, REVELN's insight:

These are classics, and good reminders.  ~  D

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Social media trends in 2012: The 10 biggest headlines of the year

Social media trends in 2012: The 10 biggest headlines of the year | The Social Media Learning Lab | Scoop.it
Excerpts:

Pinterest was the social media success story of the year, offering a more visual alternative to Facebook and Twitter that synced neatly with ecommerce and affiliate marketing.

Facebook continued to dominate and Twitter grabbed most of the headlines (although not always for the right reasons).

Twitter clamped down on third party apps to pave way for more ads,

LinkedIn added follow tools and bought SlideShare, while Salesforce boosted social CRM for clients buy snapping up BuddyMedia.

Deb Nystrom, REVELN's insight:

I opened a box of gum yesterday and found the Facebook logo INSIDE the display style box. Social media continues its pervasive influence in our lives, witnessed by this summary of trends.

this articles gives a good overview of how that is happening in their synopsis of 2012 trends, including:

  • Twitter’s live news reporting 
  • Pinterest’s digital scrapbooks
  • Google+ - beginning to rival Twitter for global active users


I have active accounts in all three of these and agree with what I see in this piece.

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7 Steps to Ignite Your Social Media ROI - Infographic

7 Steps to Ignite Your Social Media ROI - Infographic | The Social Media Learning Lab | Scoop.it

Social Media ROI - how to Ignite Social Media (RT @Lexis_Kreationz:  http://t.co/cYG7w4e0...)...

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Do’s and Dont’s for Community Management [INFOGRAPHIC]

Do’s and Dont’s for Community Management [INFOGRAPHIC] | The Social Media Learning Lab | Scoop.it

How do you stay on track on your social media plans and campaigns? This is a handy infographic from Return on Digital which showcases community management basic practice.


  • Good practices, good reminders for Facebook, Twitter & LinkedIn! 

Via Jonha Revesencio
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The Hidden ROI of Social Media, making it worth your investment

The Hidden ROI of Social Media, making it worth your investment | The Social Media Learning Lab | Scoop.it

“How can I quantify my limited time and stretched resources and be assured of a return?”  … the short answer is, you can’t.  And, it still can be well worth it.


This short piece goes along with the ROI trend I've been curating in social media, and includes the author's two favorite examples of intangible but valuable return on social media investment


Excerpt:  

You cannot be assured of a definitive, predictable ROI from social media, no matter the size or your business or nonprofit.


This is true even if you are Proctor & Gamble, “the world’s largest marketer” (according toBusiness Insider) with a $10 billion annual ad budget.


P&G recently laid off 1,600 staffers in its marketing department to dedicate more resources to its social networks – but it’s impossible to know (yet) how this has affected sales.


1. Establishing yourself as a Thought Leader. Share your abundance of useful information that people want to read.  Examples with sizable social media followings:


  • Chris Brogan is a thought leader in social media, advising us in how to use social media and social networks to build relationships and deliver value.
  • Becky McRay of Small Biz Survival. She writes about small business and rural issues, based on her own successes and failures.” 
Read the full article here, including Julia Campbell's second example of engaging with dedicated Brand Ambassadors.
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Debunking Social Media ROI Myths

Debunking Social Media ROI Myths | The Social Media Learning Lab | Scoop.it

"Great post on debunking the myths about social media ROI."


I've been running across several good ROI & social media posts recently, including this one. Here are two gems that help bring clarity to the ROI SoMe topic.


Excerpted:


Myth #1: Social ROI doesn’t exist.
ROI is traditionally measured in terms of sales, minus the cost and time required in executing the campaign. But social media is not just about sales it’s about engagement.

_________________________


A single person who comments on a company blog and is greeted with an open ear ...is likely to...be a brand ambassador for life.

_________________________


...[the] word...holds meaning. ...two measurements of social ROI that are often not factored into the equation:

  • is your social media bringing in qualified leads, and
  • is your social media staff productive?


A single person who comments on a company blog and is greeted with an open ear by the company is likely to share the company across social networking sites and be a brand ambassador for life.


Myth #2: Social media and return on investment don’t mix.


...Social media is not the means to an end. Companies that use strategic social media marketing, integrated into the broader business plan, see results.


...social media is replacing word of mouth, and there is no doubt socialization of a brand leads to increased sales. People are inclined to share their brand preference on a blog or their Facebook and Twitter pages because it’s another opportunity to express their identity.


Read the full post here.

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The Prisoner's Dilemma That Is Email Marketing

The Prisoner's Dilemma That Is Email Marketing | The Social Media Learning Lab | Scoop.it

"Even if email’s ROI is slipping (which is it), email still performs at 3x the return of social media and 2x that of search."


...An even more powerful deterrent to scaling back email than losing sales is losing share. Mindshare in the inbox is limited, like shelf space at Walmart. Every spot you give up, a competitor may well take.

Read more: http://www.mediapost.com/publications/article/197231/the-prisoners-dilemma-that-is-email-marketing.html#ixzz2QNjtuxf6


Photo:  by Sean MacEntee, Flickr

Deb Nystrom, REVELN's insight:

In the article, I particularly like this excerpt,


"Replace message or campaign ROI with subscriber or program ROI.  ...Recognizing the value in sending judiciously can have a profound impact on the quality and relevance of messages."   ~  Deb

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Clearing up ROI Confusion, #Infographic: Social Media Effectiveness for YOU

Clearing up ROI Confusion, #Infographic: Social Media Effectiveness for YOU | The Social Media Learning Lab | Scoop.it

"A helpful infographic!  Clear up the confusion of Social Media ROI by outlining the objectives, benefits and factors that affect your success including ROI, by MDG Advertising."


This includes making sense of the imprecise.


For more on Social Media with a consulting, coaching focus, see Deb's posts here:


   
    
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How LinkedIn, Facebook and Twitter Have Changed the ROI of Leadership - Forbes

How LinkedIn, Facebook and Twitter Have Changed the ROI of Leadership - Forbes | The Social Media Learning Lab | Scoop.it

"Linkedin, Facebook and Twitter have changed the ROI on leadership and it’s your responsibility to get in the game."


Excerpts:


As a former C-level exec, I was skeptical myself, but now I’m a believer. Linkedin, Facebook and Twitter have changed the ROI on leadership and it’s your responsibility to get in the game.


About a year ago, the head of marketing for a healthcare company told me, “our leaders are not paid to write and express their POV outside their immediate roles & responsibilities. Besides, many of them don’t write well and would tarnish their image if they tried.”


I responded  ...many of your smaller competitors have invested in activating the voices of their senior executives by training them how to blog and also how to utilize social media to expand their reach and influence.”


This prediction recently became a reality and not only has the head of marketing been fired, but the company has had to hire new talent that understands how to implement the power of social media.


Read the full post and helpful comments here.


Via AnnaGenis
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Strategy & Customer Relationship (Trust) come first, then Social Media Strategy: Forbes & McKinsey

Strategy & Customer Relationship (Trust) come first, then Social Media Strategy:  Forbes & McKinsey | The Social Media Learning Lab | Scoop.it

"Strategy is more important than ever - so that a company's social media strategy is more than a collection of tactics."


From the executive point of view, chief marketing officers and the like comment on 2012 social media strategy at the Chief Marketing & Sales Officer Forum summit  It's good to be reminded of organizational systems.


__________________________


I’m surprised how often a company’s social media strategy is really just a collection of tactics. - Google’s Margo Georgiadis

__________________________


Excerpts by McKinsey contributor, Marc Singer.


1. Strategy is more important than ever

From Google’s Margo Georgiadis:  I’m surprised how often a company’s social media strategy is really just a collection of tactics.


The alluring possibilities of social and digital media can easily distract our focus from what really matters to our companies—and to our customers. All of us need to bring in the new while staying focused on our enduring customer strategies.


2. To engage customers and influence brand perception, marketers need to build trust

Companies are no longer the sole arbiters of their brand; customers have an important, and in some cases decisive, voice. But marketers still have enormous influence around how customers understand and interact with their brand. ...a lot of that value is dependent on trust between brands and their customers, which has been taking a beating in the last few years. 


__________________________


Many companies still fail to measure accurately or consistently [as their] metrics programs aren’t tied to strategies built around target customers.

__________________________


3. Companies need to “instrument” their organizations around target customer segments

Stanford’s Aakers talked about how leading companies haven’t stopped measuring ROI, but they’ve expanded their notion of what the return might be including a more personal form of ROI better suited for a social age:

  • innovation, 
  • R&D savings, 
  • employee hiring savings, 
  • employee morale and passion, 
  • and so forth. 


Ford’s Farley makes the connection between “brand favorability”—the customer’s overall perception of a brand relative to competing brands—and pricing power. Farley has found that brand favorability is deeply driven by what Ford does in social media.  Many companies still fail to measure accurately or consistently as their metrics programs aren’t tied to strategies built around target customers.


Read the full article here.


Photo credit:  Flickr CC by John-Morgan

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The Social Media ROI Solar System [Infographic] , Social Marketing Insights

The Social Media ROI Solar System [Infographic] , Social Marketing Insights | The Social Media Learning Lab | Scoop.it
The Social Media ROI world as a solar system, infographic. It's helpful to compare to other SoMe perspectives.

In this infographic, the view is "only one method, the analysis of sales revenue generated relative to the program investment, delivers ROI in the way it is meant to be measured –  in financial terms. If you think of that as the center of the measurement universe, here’s how the rest of the social measurement solar system might look."

Via:
BzzAgent's views on the fast-paced world of social marketing......
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Social Media Survey with a Surprise: 92% Of Companies Using Social Media | Jeffbullas's Blog

Social Media Survey with a Surprise: 92% Of Companies Using Social Media | Jeffbullas's Blog | The Social Media Learning Lab | Scoop.it

Jeff Bullas spent a bit more time reviewing this Social Media report than he had planned, finding the "revelations compelling."  Those uses of the "R" word got my attention: Research & Revelation:


  • The study was focused on social media utilization – not on adoption.  It's how people and companies are using social media in a work context today.
  • Companies judge social media success by:
  1. Website traffic increase 61%
  2. Engagement with prospects 57%
  3. Brand awareness 54%
  4. Engagement with customers 50%
  5. Revenue 42%  (ROI is NOT the top spot)
  6. Brand reputation 42%
  7. Prospect lead volume 36%
  8. Prospect lead quality 33%
  9. Useful product feedback 23%
  • 46% of US adults now participate in social networks, and a quarter do so weekly, make it increasingly difficult to pigeon-hole social media as something relevant to only specific demographic groups or personal vs. work lives.


It's a juicy, hefty post.  But here's the surprise.  It was written in 2009!


A more current report:


10 Things You Must Know about the State of Social Media in 2011

features these factoids:


Social Networks “were” Superficial but are Now Serious Business


Social networking sites reach 82% of the world’s online user population.

  • In 2011, social networking accounts for 19% of all time spent online.
  • In 2007 it was only 6%

The global reach of social networking

China – 53%

USA – 98%

Australia – 96%


Growth & Platforms

  • One in every 7 minutes spent online is on Facebook
  • Twitter now reaches 1 in 10 Internet users. and is a significant real time news platform whenever a major news item breaks
  • Users aged 55 and older is the fastest growing segment in social networking usage.
  • Google+ became the fastest growing social network in history and reached 25 million users in less than 30 days.  (Facebook took 36 months & Twitter 33 months to reach that number.)
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