Social media is taking up a bigger portion of marketing budgets, but few companies said they have been able to quantitatively measure its impact. Despite the increasing investment in social media, it’s still difficult for marketers to quantify their return on investment. Only 15% of marketers in the study said they can show the impact of social media on their businesses using quantitative approaches, while 40% of marketers can only demonstrate the impact qualitatively. Nearly half of marketers said they haven’t been able to demonstrate the impact of social media spending on their business at all.
Via Ted Dhanik; According to Ogilvy’s report, Facebook sources have hinted that organic reach will approach zero in the near future. In addition, one one analysis found that as many as 40 percent of “likes” for one life sciences company were fraudulent. In other words, brands spent years building a fan base they either can’t reach or actually don’t want to reach. But wait, it gets worse; advertisers are paying for less than they believe. Facebook advertisers are detecting 20 percent to 30 percent click fraud on the site using sophisticated forensics. Rather than offshore likers, bots are decimating ad performance on Facebook. It’s no wonder that one company has written a breakup letter to Facebook while many others are ready to unfriend the social network after paying for promoted posts with underwhelming results. Quoting Monty Python from The Holy Grail “Run Away!”
Valleywag says that Facebook is “in the process of” slashing “organic page reach” down to 1 or 2 percent. This would affect “all brands” because Facebook is a business and they have to make a lot more money. But in doing so is Facebook, destined to just become another online media property for media companies looking to target consumers with advertisers’ messages?
POST SUMMARY: “Measuring online advertising today is like trying to boil a swimming pool with a Bunsen burner.” A Facebook executive said “We’ll look at cookie-based measurement in two years the same way we look at a tricked-out 1992 Dell today — antiquated and inefficient. Alternatives to cookies such as device IDs and stable IDs will be the way that marketers measure campaigns. This is the future of measurement, especially in today’s mobile world.” Is he right?
POST SUMMARY: According to Ogilvy “organic reach of the content brands publish in Facebook is destined to hit zero. It’s only a matter of time.” Forrester says in a new blog post, a recent change Facebook made to reduce the “organic reach” of advertisers’ posts — the percentage of their fans who see them — makes advertising on the social network no longer worth it: Is there any doubt now that Facebook has abandoned social marketing, and that its paid ad products aren’t delivering results for most marketers?
Facebook global head of brand design Paul Adams presented one of the most important talks last year. In the session, “What People Share and Why,” Adams suggested that people are not necessarily predisposed to sharing and said “brands need to understand why people talk. By doing so, it is much easier to create vibrant communities and conversations. The first reason people talk is to make life easier. For brands, that means creating content that makes something easier for their fans.” But is this true for all brands ?
Over the last year have posted different stats about the ineffectiveness of Facebook posts (seen by less than 1%) of users, but the hype around Facebook has continued. Now comes word in a big shift from the stance Facebook took a year ago, when agencies called out the fact that posts published by clients were being seen by fewer of their fans that marketers are going to have to pay for reach on Facebook via ads. Welcome to reality but I have to wonder what took you so long ?