Are brands becoming disillusioned with social media and should they even measure their social media marketing? That depends who you ask. Some social media and inbound marketing companies are still promoting the hell out of social media and in so doing so they are overpromising results. However, smart marketers understand that social media is an essential part of an integrated marketing program.
Kevin Ryan brought up a great point, “the concept of quality over quantity seems to get lost all too frequently. People rarely say what’s actually on their minds and answering questions no one asked you because it looks like search fodder isn’t a path to engagement glory.” While good content is essential to keep visitors on your site one still has to ask the hard question “how are consumers supposed to read all this content?”
It is abundantly clear that there is a massive “digital divide” between consumers engaging in real-time across channels, versus the digital marketing industry that is still largely siloed and not executing in real-time. It appears that this digital divide is due, in large part, to two key challenges observed in this research, namely: Overwhelming Complexity and Lack of Unified Measurement.
By far the biggest challenge for most brands and marketers is “what exactly is social media doing for our brand & business objectives ?” Executives want clear examples of ROI not vanity metrics such as the number of people who “Like” our brand or follow our brand via a Twitter feed. Here are some ways to measure social media with results that matter.
In a renewed effort to lure a bigger share of the advertising dollars that now flow to major TV networks, Google’s YouTube is making a number of concessions long sought by marketers, ad executives say and the headline reads ” Facebook Exec Snarkily Confirms Brands’ Big Fear: Their Content Isn’t Important“. So what’s going on here? A little something called accountability, which most social media “experts” have been able to dodge.
POST SUMMARY: A recent article suggested that marketers are moving away from social media ROI because “they’ve realized that social media isn’t a transactional engine or sales machine.” I would counter that the reason many marketers are moving away from social media is that they are frustrated trying to measure ROI and don’t have the depth in web analytics to really determine if their investment in social media marketing is really warranted.
At its best digital analytics can help marketers optimize their website to provide a better ROI. At it’s worst, digital analytics can provide vanity metrics, like total website visitors, that have little to do with branding & marketing. As 78% of marketers are feeling pressured to become more data-driven marketers have to learn to use the right analytics that provide meaningful and actionable insights.