Steve Jobs liked to say that it’s not enough to kill bad ideas, you have to kill good ones too.
Marketing strategy is particularly difficult because the rules have changed. A generation ago, brands mostly strove to create buzz and “drive awareness,” now they need to build compelling experiences that keep consumers engaged.
However, the old tasks have not gone away. We still need to run TV ads and in-store promotions, man conference booths and hand out brochures, but now on top of that we have a whole new world of algorithms, apps and devices to master. To meet the new challenges, we need a new strategic approach, a new mindset and new organizations.
The above chart shows the three core brand objectives aligned with six tactical strategies. Mere platitudes and a “one size fits all” approach will not do, so once we’ve identified a particular area of need, we want to focus on building an approach designed for that specific task, rather than chasing the latest fad.
A recent study revealed that almost half of companies are not monitoring their online social media communities.
More than one-third said that they only measure Likes, comments and interactions on Facebook, with fewer than one in four actively measuring the ROI of their social media campaigns.
Social media affects your bottom line; brands that are proactively using these tools see numerous benefits. And for those that aren’t, the absence of social media can also impact their bottom lines, albeit in a very different way.
This infographic takes a closer look at why the shift to in-depth social media monitoring is critical for the modern business.
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